What is an agreement to arbitrate?
An agreement to arbitrate is an agreement between two parties to settle a dispute outside of the court system. Instead, the parties decide to use arbitration, which is a process where the dispute is resolved by a neutral third party, known as an arbitrator. In Delaware, an agreement to arbitrate is legally binding and cannot be challenged in court. It is also generally less time-consuming and costly than going through a traditional court process. During arbitration, both sides get to present their case, and the arbitrator will make a decision in favor of one party or the other. This decision is usually final and cannot be appealed. An agreement to arbitrate is often included in a contract between two parties in an effort to avoid costly legal battles in the future.
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