What is an agreement to arbitrate?
An agreement to arbitrate is a contract between two parties in which they agree to settle any disputes that arise through the use of an independent third party. This third party is called an arbitrator, and they are tasked with listening to the arguments of both sides and then rendering a judgment that is legally binding on both parties. In District of Columbia, arbitration agreements are generally favored by the courts as a way of resolving disputes quickly and efficiently, without the need to go through the long and often expensive process of a civil trial. The arbitration proceedings typically take place quickly and require much less paperwork than a court case would. Additionally, the parties have more control over the outcome since they have a hand in selecting the arbitrator. All of these factors allow for the parties to resolve a dispute in a way that works best for them, without the need to spend time and money on litigation.
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