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Arbitration is a system for settling out of court all differences or disputes about the physical condition of the property. The arbitrator hears all sides of an argument and then makes a decision. Disputes can often be simple misunderstandings that involve a limited amount of money. If you can't agree on a solution, you can go to court, submit the dispute to arbitration or use another dispute resolution process. However, if an arbitration agreement is signed, your rights to pursue any action in court is waived, as the arbitration agreement is binding.
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