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Auto Arbitration Agreement

In this Arbitration Agreement the term "you" refers to the buyer(s) or lessee(s) who sign below. The term "we" refers to _____________________________ (Dealer). By signing this Arbitration Agreement, you and we agree to submit our disputes to arbitration. By agreeing to submit our disputes to arbitration, you and we voluntarily give up the right to go to court and the right to a jury trial.

Any dispute arising out of or related to the purchase, lease, servicing or repair of a _____(year) ______________(make) automobile, VIN # _______________, from _______________(Dealer), including any dispute over whether a dispute is subject to arbitration, shall be resolved by arbitration before a single arbitrator pursuant to the Binding Arbitration Rules (the "Rules"), in effect on the date of this agreement, of the BETTER BUSINESS BUREAU OF CHICAGO AND NORTHERN ILLINOIS, INC. (BBB), WHICH IS LOCATED AT 330 N. WABASH, SUITE 2006, CHICAGO, ILLINOIS 60611, phone number 312-245-2570. The Rules may be accessed on the BBB's website at www.chicago.bbb.org. Any arbitration hearing shall be held in Chicago, Illinois unless the parties mutually agree otherwise or unless the arbitrator determines that a different location would better serve the convenience of the parties. Notwithstanding the foregoing, the parties may, by mutual agreement, resolve their dispute by using any recognized arbitral institution.

The Arbitration Agreement is incorporated into and made a part of any and all agreements or contracts between the parties executed on or about the date shown or any related agreements or contracts entered into, before, on or after the date. This Arbitration Agreement shall survive the expiration or voiding of any such other agreements or contracts.

If either party to this Arbitration Agreement files a lawsuit in contravention of this Arbitration Agreement and refuses to voluntarily withdraw such suit upon receiving notice by the other party of the obligation to arbitrate, then the party seeking to compel arbitration shall be entitled to reasonable attorneys' fees incurred in successfully compelling arbitration.

The arbitrator's award shall be final and binding and based upon applicable law. Judgment on the award may be entered by any court having jurisdiction thereof.

The arbitration fees, as set forth in the then established fee schedules of BBB (or any alternative arbitral institution mutually selected by the parties), shall be allocated between the parties as follows: You shall pay the first one hundred dollars ($100), and we shall pay the balance.

One or more of the parties to this agreement is or may be a member of the BBB. It is agreed by all parties that the BBB is an ethical, fair, trustworthy and unbiased organization able to fairly provide the above arbitration services.

BY VOLUNTARILY SIGNING BELOW THE PARTIES ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTAND THE ARBITRATION AGREEMENT AND AGREE TO ITS TERMS.

 

_____________________ _________   ______________________ _________
Buyer or Lessee Date   Co-Buyer or Co-Lessee Date

 

___________________________________ _________
Seller/Dealer Date

Revised 10/27/04

The BBB prepares no legal documents nor does it provide legal advice. This Agreement is used by the CATA and is meant for auto dealers. Its contents can be modified for use by other businesses. Before you use any Agreement in your activities consult with your lawyer.