This Agreement is by and between (YOUR NAME/COMPANY) of__________________ and (COMPANY/INDIVIDUAL) of _______________.
BE IT ACKNOWLEDGED, that we the undersigned as our interests exist in and to a certain contract, dispute, controversy, action or claim described as:
(state claim of both parties)
do hereby agree to resolve any dispute or controversy we now have or may ever have in connection with or arising from said claim by binding Arbitration.
Said Arbitration shall be in accordance with the rules and procedures of the (name of arbitration association/committee) of _______________ City _________ State ______ Zip ____, which rules and procedures for arbitration are incorporated herein by reference and the decision or award by the Arbitrators shall be final, conclusive and binding upon each of us and enforceable in a court of law of proper jurisdiction. All costs of arbitration shall be shared equally except that each individual party shall pay his own legal costs.
Signed this ___________ day of ___________, 20 __.