Written contracts may contain an arbitration clause. By using such a clause, the parties agree to arbitrate any future disputes. As with any clause, all parties must agree to it, and the following arbitration clause does not have to be used “as is” in order to use the services of United States Arbitration & Mediation.
In the event a dispute shall arise between the parties to this [contract, lease, etc.], it is hereby agreed that the dispute shall be referred to United States Arbitration & Mediation for arbitration in accordance with United States Arbitration & Mediation Rules of Arbitration. The arbitrator’s decision shall be final and binding and judgment may be entered thereon. In the event a party fails to proceed with arbitration, unsuccessfully challenges the arbitrator’s award, or fails to comply with arbitrator’s award, the other party is entitled of costs of suit including a reasonable attorney’s fee for having to compel arbitration or defend or enforce the award.
In Missouri, arbitration contracts are required to contain the following language, in boldface and “ten-point capital letters,” above the signature lines: THIS CONTRACT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES.