What is an Arbitration Agreement?
Friday, January, 21, 2011
Have you ever heard of an arbitration agreement but aren't too sure what it really entails? If you're in that boat, then you've come to the right place, because we are going to go over exactly what arbitration agreements are and how they pertain to you. Arbitration agreements are written agreements between two parties that are designed to resolve a conflict or solve a problem between parties. These can also be written up beforehand to prevent someone from pressing charges on the other party, for any reason, or taking them to court. This type of arbitration agreement is most common in work environments that present an extraordinary danger and communicate to the employee that if anything happens to them, the employer is not responsible.
Now that you know what arbitration agreements are, you probably remember an instance in which you've seen one or heard about one. The best thing to do when it comes to these scenarios is to live up to your end of the bargain and avoid breaking any rules. If you do this, then you'll be just fine and never find yourself on the receiving end of the penalties that may come with an arbitration agreement or anything negatively associated with the process. Hopefully you have a better understanding of them now and know how they work. If you take the proper preventive measures, you'll never find yourself needing to know what these are; however, it's always good to know just in case a situation does arise, and you find yourself in a bad predicament. Contact us today to learn how we can achieve an arbitration agreement for you.