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Arbitration Agreements

What is an Arbitration Agreement
An arbitration agreement provides that two or more people will submit an existing or future dispute to arbitration.  Arbitration allows a dispute to be decided by one or more persons (the “arbiters” or “arbitrators”) selected by the parties to the dispute instead of decided by a judge or jury in the court system.  Arbitration agreements are most commonly made “prospectively” (meaning parties agree to arbitrate any future disputes) but can also be made “retrospectively” (meaning parties agree to arbitrate a dispute that has already arisen).

Arbitration agreements can be mandatory (the parties are required to seek arbitration …