Common use of STEP IV: Binding Arbitration Clause in Contracts

STEP IV: Binding Arbitration. 47.4.1 If no settlement is reached in Step III within the specified time limit, the Association may within fifteen (15) days therefrom submit a written request for arbitration and concurrently give written notification to the Superintendent of such request for arbitration. 47.4.2 The issue must involve the interpretation or meaning of the express provisions of the Agreement.