What are the remedies for breach of an arbitration agreement?
In Montana, remedying a breach of an arbitration agreement can depend on the circumstances of the breach. Generally speaking, if a party to the arbitration agreement fails to abide by the agreement, the other party may be entitled to certain remedies. First, the non-breaching party may be able to seek damages. In most cases, these damages will be calculated on the basis of the losses and damages that were sustained as a result of the other party’s breach. Second, the non-breaching party may be able to seek specific performance of the arbitration agreement. This is an order issued by a court which requires the breaching party to comply with the terms of the agreement. Third, the non-breaching party can also seek injunctive relief. Injunctive relief is a court order that requires the breaching party to perform or cease a certain activity or action. Finally, a court may also order punitive damages. These are damages awarded to the non-breaching party as a way of punishing the breaching party for their violation of the agreement. These remedies are provided to enforce the arbitration agreement and to ensure that all parties abide by its terms and conditions. While the remedies may be different in each case, it is important for parties to an arbitration agreement to understand the remedies available to them in the event of a breach.
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