Common use of Binding Arbitration Procedure Clause in Contracts

Binding Arbitration Procedure. Unless the parties have agreed upon the selection of the Arbitrator before then, the AAA shall appoint the Arbitrator as soon as practicable, but in any event within thirty (30) days after the submission to AAA for binding arbitration. The Arbitrator’s award shall be a final and binding determination of the dispute and shall be fully enforceable as an arbitration award by the New York courts in accordance with New York law. The prevailing party in such arbitration shall be entitled to recover its reasonable attorneys’ fees and expenses, including arbitration administration fees, incurred in connection with such proceeding. Neither party nor the Arbitrator may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of both parties.

Binding Arbitration Procedure. Unless the parties have agreed upon the selection of the Arbitrator before then, the AAA shall appoint the Arbitrator as soon as practicable, but in any event within thirty (30) days after the submission to AAA for binding arbitration. The Arbitrator’s 's award shall be a final and binding determination of the dispute and shall be fully enforceable as an arbitration award by the New York courts in accordance with New York law. The prevailing party in such arbitration shall be entitled to recover its reasonable attorneys’ ' fees and expenses, including arbitration administration fees, incurred in connection with such proceeding. Neither party nor the Arbitrator may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of both parties.