What is an arbitration claim?
A. An arbitration claim is a statement of injury together with a request for compensation in either an estimated or certain dollar amount, and/or that the other party perform or quit performing some act. A claim is presented by the initiating party in his/her Demand for Arbitration and by the responding party in his/her Response to Demand or by either or both parties in their Agreement to Arbitrate. To see sample GAMA forms #101 and #103, click here. Because different states do have different requirements regarding the timing and content of arbitration demands and responses and there are statute of limitations that may prohibit you from serving a demand for arbitration after the passing of a certain amount of time, it is recommended that you consult with an attorney in your jurisdiction when you first have knowledge that you may have a claim requiring resolution or when you first receive a demand for arbitration so that you may properly and timely respond.
Related Questions
- Does an arbitration case or claim filed against me with the Financial Industry Regulatory Authority (formerly the National Association of Securities Dealers, Inc.) require disclosure?
- How do I go about appealing a workmen’s compensation claim denial at arbitration?
- Does an arbitration provision have any effect on a lien foreclosure claim?
