Common use of Secs Clause in Contracts

Secs. 1-16, shall govern the arbitrability of all Disputes. Judgment upon the award rendered in any such arbitration may be entered in any court having jurisdiction thereof, or application may be made to such court for a judicial acceptance of the award and an enforcement, as the law of such jurisdiction may require or allow. The arbitrator shall not have authority to award punitive damages. All expedited procedures prescribed by the AAA rules shall apply. The arbitrator's decision and award shall be final and binding and judgment may be entered in any court having jurisdiction thereof. Each party shall bear its own costs and attorneys' fees, and shall share equally in the fees and expenses of the arbitrator but the arbitrator shall have the discretion to award costs and attorney's fees in his discretion. The arbitration panel will be composed of one single arbitrator engaged in the practice of law, under the then current rules of the AAA. No person may be appointed as an arbitrator unless he or she is independent of the Applicant and Respondent, is skilled in the subject matter of the Dispute and is not directly or indirectly carrying on or involved in a business being carried on in competition with the business of the parties. The decision of the arbitration panel shall be made by the sole arbitrator. The venue for the arbitration shall be in Washington, DC unless otherwise agreed to by the parties in writing.