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What is an arbitration clause in a contract?

 

A: Many business contracts contain an arbitration clause that states that any dispute between the parties will be settled by a panel of arbitrators rather than in court. The purpose of this clause is to reduce the time and expense that is often involved in taking a case to trial. However, just because your dispute will be settled by a panel of arbitrators, rather than a judge or jury, does not mean that you should not have an experienced attorney to represent your business at an arbitration proceeding.




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