Draft a dispute resolution clause

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Reference no: EM131000390

My team is supposed to draft a dispute resolution clause for this week's assignment and we are at a loss for how to make this as original as possible. We used a clause builder tool from the Internet and were going to change some things to make it our own but all the terms are legal or typical in a contract clause and we do not know how to proceed. When we submitted the copy of what the clause builder helped us come up with to the plagiarism checker it came back as 88% similar. We do not know how to make this original and our own work. 

Any controversy or claim arising out of or relating to this contract, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules  and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

Claims shall be heard by a panel of three arbitrators. Within 15 days after the commencement of arbitration, each party shall select one person to act as arbitrator and the two selected shall select a third arbitrator within ten days of their appointment. If the arbitrators selected by the parties are unable or fail to agree upon the third arbitrator, the third arbitrator shall be selected by the American Arbitration Association. The arbitration shall be governed by the laws of the State of Missouri. Each party will, upon written request of the other party, promptly provide the other with copies of all relevant documents.  There shall be no other discovery allowed. Hearings will take place pursuant to the standard procedures of the Commercial Arbitration Rules that contemplate in person hearings. Each party shall bear its own costs and expenses and an equal share of the arbitrators' and administrative fees of arbitration. Except as may be required by law, neither a party nor an arbitrator may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of both parties.References

Association, A. A. (2016). Clause Builder Tool. Retrieved from American Arbitration Association: https://www.clausebuilder.org/cb/faces/options/optional?_adf.ctrl-state=s5y3g1apt_58

Reference no: EM131000390

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