Are there any special requirements for an arbitration agreement?
Yes, an arbitration agreement must meet certain requirements in order for it to be valid in District of Columbia. According to the D.C. Code, an arbitration agreement must: be in writing, be signed by the parties to the agreement, and clearly outline the dispute(s) to be submitted to arbitration. Additionally, the agreement needs to specify the number of arbitrators and the manner in which they are selected. Also, the agreement must state the language to be used in the arbitration, the location for the arbitration, and the law to be applied in the case. Furthermore, the agreement must contain confidentiality provisions to protect the parties’ proprietary information and establish procedures for how the arbitration is conducted. Finally, the agreement must include a provision that states that all costs associated with the arbitration must be shared equally by the parties. All of these requirements must be met in order for the arbitration agreement to be valid.
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