Arbitration Agreement

ARBITRATION AGREEMENT

This Arbitration Agreement (“Agreement”) is executed contemporaneously with, and as an Inducement and consideration for, an Installment or sales contract (“Contract”) for the purchase of a manufactured home (“Horne”) as described in the Contract by the purchaser(s) (“Purchaser”) with _________________________ _________(“Retailer”). The parties hereto acknowledge that this Agreement is part of the Contract and that the Contract evidences a transaction in interstate commerce governed by the Federal Arbitration Act.  This Agreement is binding and inures to the benefit of the Purchaser, the Retailer, and their successors and assigns. This Agreement is also for the benefit of the manufacturer, and any entity providing financing and their successors and assigns, who may elect to submit any dispute covered by this Agreement to binding arbitration by providing written notice to the Retailer and the Purchaser within 60 days of the date any complaint is served upon them.

All claims, disputes and controversies arising out of or relating in any way to the sale, purchase, or occupancy of the Home or of any goods or insurance products offered or sold in connection with the contract, or arising out of the financing of the Home, inducing, but not limited to, any negotiations between the parties, the design, construction, performance, delivery, condition, installation, financing, repair or servicing of the Home, including claims for equitable relief or claims based on contract, tort, statute, warranty, or any alleged breach, default, negligence, wantonness, fraud, misrepresentation, suppression of fact, or inducement, will to the fullest extent permitted by Federal law be resolved by binding arbitration administered by the American Arbitration Association (“AAA”) under its Commercial Arbitration Rules. Notwithstanding the above, no act to take or dispose of collateral securing payments under the Contract, (including without limitation the exercise of any rights under a mortgage, deed of trust or security interest with or without judicial process, or obtaining a writ of attachment or sequestration), shall be subject to this Arbitration Agreement. Any challenges to the validity or enforceability of this Agreement shall be determined by the arbitrator(s) in accordance with the provisions of the Federal Arbitration Act and the Commercial Arbitration Rules of the AAA. Copies of the rules may be obtained by writing the AAA at 428 East Fourth Street, Suite 300, Charlotte, North Carolina 28202-2431.

Arbitration may be initiated by any party by sending written notice of its intention to arbitrate (“Notice”) to Retail or at its registered agent and Purchaser’s last known address and to the AAA office as set forth above. The Notice will contain a description of the claim, dispute, or controversy and the remedy requested. In no event may any demand for arbitration be made after the date when the institution of a legal or equitable proceeding based on the claim, dispute or controversy in question would be barred by the applicable statute of limitations or laches. For any claim requesting relief or an award of less than Twenty Thousand Dollars ($20,000.00), the arbitration will be conducted before a single independent and impartial arbitrator selected pursuant to the Commercial Arbitration Rules of the AAA. For any claim requesting relief or an award of greater than Twenty Thousand Dollars ($20,000.00), the arbitration will be conducted before a panel of three independent and impartial arbitrators selected pursuant to the Commercial Arbitration Rules of the AAA. Unless otherwise mutually agreed, all arbitrators shall be lawyers licensed by the State in which the claim arises, with five or more years experience in the practice of Commercial Law and approved to be on an AAA Panel.

The arbitrator will deliver the decision or award in writing with a summary of the reasons for the decision or award, and the decision or award shall be final and binding on all parties, their successors and assigns. In an appropriate case, the arbitrator may grant a motion to dismiss the claim or a motion for summary deposition of the claim. Judgment on the decision or award may be entered by any court having jurisdiction. Fees and costs of the arbitration will conform to the AAA fee schedule in effect at the time of the arbitration and will be shared equally by the parties.

‘This Agreement shall not prevent any party from requesting a consumer claim inspection by any authorized state agency, and such agency must be allowed to complete any informal dispute resolution process prior to any arbitration proceeding.

This Agreement is an election to resolve claims, disputes, and controversies by arbitration rather than the judicial process. IT IS UNDERSTOOD THAT THE PARTIES WAIVE ANY RIGHT TO A JURY TRIAL OR A TRIAL IN COURT. The parties understand that the rules applicable to arbitrations and the rights of parties in arbitrations differ from the rules and rights applicable in court. The arbitration will be conducted at an appropriate time and place set by the arbitrator or panel in the county of sale. Purchaser(s) acknowledge receipt of a copy of this Agreement. This Agreement dated __________________, 20_____.

______________________________            By:______________________

(Retailer’s Signature)

______________________________            By:______________________

Purchaser(s) Name(s)

______________________________            By:______________________

Purchaser(s) Name(s)

State Specific Arbitration Forms

—-For State Specific Arbitration Forms you can download in Word Format go to

http://www.uslegalforms.com/arbitration/


Inside Arbitration Agreement