What is an agreement to arbitrate?

An agreement to arbitrate is a legal document that states that two or more parties agree to use arbitration to settle their disputes. In arbitration, a neutral third party known as an arbitrator listens to both sides of a dispute and makes a decision on the matter. This decision is called an arbitration award, and is binding and cannot be appealed. In Georgia, an agreement to arbitrate must be written and must include the following provisions: the parties must be clearly identified; the scope of the disputes to be handled must be clear; the method for appointing an arbitrator must be identified; the agreement must state the laws to be applied in the arbitration process; and the agreement must include a provision for enforcement. An agreement to arbitrate can be complex and should be carefully drafted by an experienced attorney. Regardless of the complexity of the case, arbitration can be a much faster and more cost-effective way to resolve disputes compared to litigation. Furthermore, since the decision of the arbitrator is binding, the parties can be certain that their dispute has been resolved.

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What is an agreement to arbitrate?

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