Craig Tractenberg of Fox Rothschild. Courtesy photo Expert Determination or Arbitration Award: What's the Difference?
It makes a difference whether the determination is an arbitration or an expert decision. We see these clauses frequently. Something similar to "The franchise buyout price shall be determined by submission by each side's appraiser, whose reports shall be submitted to a third, whose decision shall be binding."
October 05, 2023 at 11:56 AM
6 minute read
It makes a difference whether the determination is an arbitration or an expert decision. We see these clauses frequently. Something similar to "The franchise buyout price shall be determined by submission by each side's appraiser, whose reports shall be submitted to a third, whose decision shall be binding." Or perhaps "the fair market rent for the future term shall be determined by the an independent licensed real estate appraiser selected by the parties." Will the determination by these experts be nonappealable arbitration awards or expert decisions that can be challenged in court and subject to appeal?
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