One of the biggest risks in most business, commercial, or real estate agreements is the risk of dispute and costly, protracted litigation. Arbitration agreements are one of the primary methods by which this substantial risk of loss is contained. Rather than the parties resorting to costly litigation, they are required to seek resolution of their dispute before a neutral arbiter, whose decision in the matter is final and cannot be litigated. Though these agreements are effective mechanisms for dispute resolution and cost containment, they are also highly controversial. This program will provide you with a practical guide the law governing arbitration agreements and drafting their major provisions.
- Framework of law governing arbitration agreements
- Practical uses in business, commercial, and real estate transactions
- Circumstances where arbitration is effective v. ineffective
- Counseling clients about the benefits, risks, and tradeoffs of arbitration agreements
- Scope of arbitration, mandatory nature, and rules used
- Defining applicable law, arbiter selection, and method of arbitration
- Judgment on award, review by courts (if any), interim relief
Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics, elimination of bias or Kansas credit.