ARBITRATION AGREEMENT
Alberta
Effective Date: ________
This Arbitration Agreement, hereinafter referred to as the "Agreement", is entered into and is effective as of ________, by and between the following parties:
PARTY A – ________, having a principal address at:
________
E-mail: ________
AND –
PARTY B – ________, having a principal place of business at the following address:
________
E-mail: ________
The parties may be referred to individually as a "Party" and collectively as the "Parties".
RECITAL
WHEREAS, the Parties are entering into a legal relationship with each other, as more fully described below;
AND WHEREAS, the Parties desire to resolve any disputes between them outside the court system and through binding arbitration;
NOW, THEREFORE, in consideration of the promises and covenants contained herein, and other valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the Parties hereby agree as follows:
Article I – LEGAL RELATIONSHIP
The Parties enter into a legal relationship the nature of which is as follows:
________.
A contract proving this legal relationship is attached. The contract is entitled as follows: ________.
Article II – ARBITRATION
In the event of a dispute between the Parties concerning or arising out of the Parties' legal relationship as described above, the Parties shall first attempt to resolve the dispute personally and in good faith. If such attempts at personal resolution fail, the Parties shall then submit the dispute to binding arbitration.
Article III – PROCEDURE
The arbitration shall be conducted in the following county: ________.
Each Party shall pay its own arbitration costs and fees and share the cost of the arbitrator unless the Parties' relationship is based on employment, in which case the employer shall pay the arbitration costs and fees. The Parties waive any right they may have to a jury trial with respect to the arbitration claims. The arbitration shall be conducted in its entirety and completed no later than 90 days after the date an arbitrator is appointed.
Article IV – ARBITRATOR
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Article V – ARBITRAL DECISION
The Parties agree to be bound by any decision of the arbitrator, including any judgment on the award.
Article VI – GOVERNING LAW
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EXECUTION
Name: ________
Signature:_____________________________________
Date:_____________________________________
Name: ________
Signature:_____________________________________
Date:_____________________________________