Closed End Motor Vehicle Lease Agreement Template printable pdf download

CLOSED END

MOTOR VEHICLE LEASE AGREEMENT

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28. ARBITRATION. The parties agree that any unresolved Disputes (as defined in Section 59 on

the reverse side of this Lease) shall be submitted to arbitration in accordance with the terms of

Section 59. By initialing this Section, you are confirming that you have read and understand

this Section 28 and Section 59 and that you agree to the terms of these arbitration Sections.

Lessee (and Co-Lessee) initials. ______________________

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ARBITRATION CLAUSE

59. PLEASE REVIEW - IMPORTANT - AFFECTS YOUR LEGAL RIGHTS.

EITHER YOU OR WE (LESSOR or ASSIGNEE) MAY CHOOSE TO HAVE ANY DISPUTE BETWEEN

US DECIDED BY ARBITRATION AND NOT IN COURT OR BY JURY TRIAL.

IF A DISPUTE IS ARBITRATED, YOU WILL GIVE UP YOUR RIGHT TO PARTICIPATE AS A CLASS

REPRESENTATIVE OR CLASS MEMBER ON ANY CLASS CLAIM YOU MAY HAVE AGAINST US

INCLUDING ANY RIGHT TO CLASS ARBITRATION OR ANY CONSOLIDATION OF INDIVIDUAL

ARBITRATIONS.

DISCOVERY AND RIGHTS TO APPEAL IN ARBITRATION ARE GENERALLY MORE LIMITED

THAN IN A LAWSUIT, AND OTHER RIGHTS THAT YOU AND WE WOULD HAVE IN COURT MAY

NOT BE AVAILABLE IN ARBITRATION.

Any claim or dispute, whether in contract, tort, statute or otherwise (including the interpretation and scope

of this Arbitration Clause, and the arbitrability of the claim or dispute), between you and us or our

employees, agents, successors or assigns, which arises out of or relates to your credit application, lease

or condition of this vehicle, this contract or any resulting transaction or relationship (including any such

relationship with third parties who do not sign this contract) shall, at your or our election, be resolved by

neutral, binding arbitration and not by a court action. If federal law provides that a claim or dispute is not

subject to binding arbitration, this Arbitration Clause shall not apply to such claim or dispute. Any claim or

dispute is to be arbitrated by a single arbitrator on an individual basis and not as a class action. You

and we expressly waive any right that either of us may have to arbitrate a class action. You may choose

one of the following arbitration organizations and its applicable rules: the American Arbitration

Association, 1633 Broadway, Floor 10, New York, NY 10019 ( org), or JAMS, 1920 Main Street,

Suite 300, Irvine, CA 92614 ( ), or any other organization that you may choose subject to

our approval. You may get a copy of the rules of these organizations by contacting the arbitration

organization or visiting its website.

Arbitrators shall be attorneys or retired judges and shall be selected pursuant to the applicable rules.

The arbitrator shall apply governing substantive law in making an award. The arbitration hearing shall be

conducted in the federal district in which you reside unless the Lessor is a party to the claim or dispute,

in which case the hearing will be held in the federal district where this contract was executed. We will

advance your filing, administration, service or case management fee and your arbitrator or hearing fee

all up to a maximum of $5000, which may be reimbursed by decision of the arbitrator at the arbitrator’s

discretion. Each party shall be responsible for its own attorney, expert and other fees, unless awarded

by the arbitrator under applicable law. If the chosen arbitration organization’s rules conflict with this

Arbitration Clause, then the provisions of this Arbitration Clause shall control. The arbitrator’s award shall

be final and binding on all parties, except that in the event the arbitrator’s award for a party is $0 or against a

party is in excess of $100,000, or includes an award of injunctive relief against a party, that party may

request a new arbitration under the rules of the arbitration organization by a three-arbitrator panel. The

appealing party requesting new arbitration shall be responsible for the filing fee and other arbitration costs

Lease-AL, GA, NC, SC__WOFCO Form #3310 (12-2013)

Closed End Motor Vehicle Lease Agreement Template

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