Delaware Rapid Arbitration Clause Samples
The Delaware Rapid Arbitration clause establishes a process for resolving disputes through expedited arbitration governed by Delaware law. This clause typically requires that any disagreements arising under the contract be submitted to a neutral arbitrator, with strict timelines for the arbitration process and limited opportunities for appeal. By mandating a swift and efficient resolution mechanism, it helps parties avoid lengthy litigation, reduces legal costs, and provides greater certainty in the enforcement of contractual rights.
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Delaware Rapid Arbitration. Notwithstanding the exclusive venue provision pursuant to Section 12.1, in order to ensure prompt resolution of disputes regarding entitlement of persons to hold office, either Pell or Accelmed may submit any dispute arising under Section 3.2 or Section 3.4 for arbitration under the Delaware Rapid Arbitration Act, which arbitration shall be binding and not subject to appeal. Without limiting the foregoing, upon such arbitration election by either Pell or Accelmed, any dispute arising under Section 3.2 or Section 3.4 that is subject to a then pending court action, and which under Delaware law may then be submitted for arbitration under the Delaware Rapid Arbitration Act, shall be instead resolved solely by such arbitration, which arbitration shall be binding and not subject to appeal, and, such dispute pending in any other court shall be immediately dismissed without prejudice. In any such arbitration, the Company shall be joined as a party.