Are there any special requirements for an arbitration agreement?

Yes, there are special requirements for an arbitration agreement to be enforceable under North Carolina law. The two parties involved in the agreement must have the intention of creating a legally binding contract. This means that the agreement must be written and signed by the parties involved. In addition, the agreement must have the terms and conditions of the arbitration process. This includes stating which arbitration service will be used, the type of arbitration that will be used (such as mediation or binding arbitration), and the fees associated with the arbitration. The agreement should also specify the location the arbitration will take place, the appointment of a neutral arbitrator, the legal authority governing the arbitration, and the deadline for the completion of the arbitration. In addition, the agreement must be in writing and must not contain any terms or conditions that are not customary in arbitration agreements or that would be contrary to public policy. Finally, the parties must be of legal age to enter into a contract and must also be legally competent to do so.

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Are there any special requirements for an arbitration agreement?

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