Arbitration - Page 3
- Arbitration Award. The arbitration award shall be in writing signed by each of the arbitrators and shall state the basis for the award. The arbitration award shall be set forth in reasonable detail as to its findings of fact and law and basis of determination of award form and amount.
- Appeal of Award. In addition to any basis for appeal of an arbitration award stated in any applicable law governing the enforcement of arbitration awards, either party may appeal an arbitration award on the basis that the arbitrators incorrectly decided a question of law in making the award, or that the award was substantially supported by or made in manifest disregard of the factual evidence.
- Enforcing Arbitration. In the event a party fails to proceed with arbitration, unsuccessfully challenges the arbitrators' award, or fails to comply with arbitrators' award, the other party is entitled of costs of suit including a reasonable attorneys' fee for having to compel arbitration or defend or enforce the award.
- Inapplicability of Arbitration Clause. IF FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES NOT APPLICABLE, THEN EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER MATTER INVOLVING THE PARTIES HERETO.
