Common use of COMMERCE Clause in Contracts

COMMERCE. The parties to this Agreement agree and acknowledge that this Agreement (including but not limited to any insurance products or policies purchased in connection with this Agreement) involves interstate commerce. It is understood by the parties that any insurance products or policies purchased in connection with the Agreement are issued by Assurant Solutions, a Florida corporation, whose performance of insurance services has or will take place in the state of the transaction. The parties agree that all disputes or disagreements, with the exception of a default in payment by the borrower, that arise out of or relate to this Agreement (including, but not limited to, any insurance products or policies purchased in connection with this Agreement, or any representations, promises, undertakings or covenants made by ▇▇▇▇▇▇ Jewelers or Assurant Solutions in connection with this Agreement or the policies purchased in connection with this Agreement), shall be decided by arbitration and in accordance with the rules of the American Arbitration Association. The parties agree to be bound by the decision of the arbitrators. The arbitration shall take place in Twin Falls, Idaho, unless the parties mutually agree to another location. The parties shall share the costs and expenses of the arbitrators equally. The Federal Arbitration Act, 9 USC 1, shall control the construction, interpretation and application of this paragraph. The parties agree that this arbitration provision inures to the benefit and is entitled to be for the benefit of any party who provides insurance coverage in connection with this Agreement, as fully as if such party was a signatory to the Agreement.

COMMERCE. The parties to this Agreement agree and acknowledge that this Agreement (including but not limited to any insurance products or policies purchased in connection with this Agreement) involves interstate commerce. It is understood by the parties that any insurance products or policies purchased in connection with the Agreement are issued by Assurant Solutions, a Florida corporation, whose performance of insurance services has or will take place in the state of the transaction. The parties par- ties agree that all disputes or disagreements, with the exception of a default in payment by the borrower, that arise out of or relate to this Agreement (including, but not limited lim- ited to, any insurance products or policies purchased in connection with this Agreement, or any representations, promises, undertakings or covenants made by ▇▇▇▇▇▇ Jewelers of Idaho, LLC or Assurant Solutions in connection with this Agreement or the policies purchased in connection with this Agreement), shall be decided by arbitration arbitra- tion and in accordance with the rules of the American Arbitration Association. The parties agree to be bound by the decision of the arbitrators. The arbitration shall take place in Twin Falls, Idaho, unless the parties mutually agree to another location. The parties shall share the costs and expenses of the arbitrators equally. The Federal Arbitration Act, 9 USC 1, shall control the construction, interpretation and application of this paragraph. The parties agree that this arbitration provision inures to the benefit ben- efit and is entitled to be for the benefit of any party who provides insurance coverage in connection with this Agreement, as fully as if such party was a signatory to the Agreement.