Common use of Settlement Offer Clause in Contracts

Settlement Offer. We may, but are not obligated to, make a written settlement offer anytime before the arbitration evidentiary hearing begins (or, if there is no evidentiary hearing, before the parties complete submission of their evidence to the arbitrator). The amount or terms of any settlement offer may not be disclosed to the arbitrator until after the arbitrator issues an award on the claim. If You do not accept the offer and the arbitrator awards You an amount of money that is more than Our offer but less than $5,000, or if the company does not make an offer to the customer and the arbitrator awards You any amount of money that is less than $5,000, then We agree to pay the customer $5,000 instead of the amount awarded. In that case We also agree to pay any reasonable attorneys’ fees and expenses, regardless of whether the law requires it for Your case. If the arbitrator awards You more than $5,000, then We will pay You the amount awarded.

Settlement Offer. We may, but are not obligated to, make a written settlement offer anytime before the arbitration evidentiary hearing begins (or, if there is no evidentiary hearing, ,before the parties complete submission of their evidence to the arbitrator). The amount or terms of any settlement offer may not be disclosed to the arbitrator until after the arbitrator issues an award on the claim. If You do not accept the offer and the arbitrator awards You an amount of money that is more than Our our offer but less than $5,000, or if the company does not make an offer to the customer and the arbitrator awards You any amount of money that is less than $5,000, then We we agree to pay the customer $5,000 instead of the amount awarded. In that case We we also agree to pay any reasonable attorneys’ fees and expenses, regardless of whether the law requires it for U H D V R Q D E O H D W W R U Q H \ V ¶ Your case. If the arbitrator awards You more than $5,000, then We we will pay You the amount awarded.