ARBITRATION CLAUSE

PLEASE READ - IMPORTANT - AFFECTS YOUR LEGAL RIGHTS

1. EITHER YOU OR WE MAY CHOOSE TO HAVE ANY DISPUTE BETWEEN US DECIDED BY ARBITRATION AND NOT IN A COURT OR BY JURY TRAIL.

2. IF ARBITRATION IS ELECTED, YOU AND WE GIVE UP OUR RIGHTS TO PARTICIPATE AS A CLASS REPRESENTATIVE OR CLASS MEMEBER ON ANY CLASS CLAIM THAT YOU OR WE MAY HAVE AGAINST EACH OTHER, INCLUDING ANY RIGHT TO CLASS ARBITRATION OR ANY CONSOLIDATION OF INDIVIDUAL ARBITRATIONS.

3. DISCOVERY AND RIGHTS TO APPEAL IN ARBITRATION ARE GENERALLY MORE LIMITED THAN IN COURT, AND OTHER RIGHTS THAT YOU AND WE WOULD HAVE IN COURT MAY NOT BE AVAILABLE IN ARBITRATION.

Any claims or dispute, whether in contract, tort, statute or otherwise between you and us or our employees, agents, successors or assigns, which arises out of or relates to the Buyers Order, the Retail Sales Installment Contract, or Lease Agreement, the Addendum, Limited Right to Cancel Agreement ("Spot Delivery"), your credit application(s), the purchase or condition of this vehicle, and any financing of this vehicle shall, at your or our election, be resolved by neutral, binding arbitration. Any claim or dispute is to be arbitrated by a single arbitrator on an individual basis and not as a class action. You expressly waive any right you may have to arbitrate as a class action.

The arbitration shall proceed before the American Arbitration Association ("AAA") according to its rules. You may obtain the AAA's rules from tis website, www.adr.org. If the AAA is unwilling or unable to serve as arbitrator, either you or we can agree to a court to appoint a substitute arbitrator. If you object to the AAA, you and we may agree to a substiture arbitrator or arbitration organization. Arbitrators shall be attorneys or retired judges selected pursuant to the applicable arbitration 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. We will pay all of your filing, administration, service or case management fees as well as the arbitration fee. Each party shall be responsible for the expenses associated with its own attorney, expert witnesses, and other fees unless governing law provides otherwise. The arbitrator's award shall be final and binding on all parties.

This arbitration provisions is governed by the Federal Arbitration Act (9. U.S.C.§1, et. seq.). You and we retain the right to pursue and seek remedies in small claims court for disputes within that court's jurusdiction, unless such action is transferred, removed, or appealed to a different court. Any court having jurisdiction may enter judgment on the arbitrator's award.

 

This arbitration clause shall survive any termination, or expiration of this Agreement, and any termination pay-off or transfer of the addendum and/or Retail Sales Installment Contract or Lease Aggrrment. If the waiver of class action rights is deemed or found to be unenforceable for any reason, the remainder of this clause shall be unenforceable.

 

 

 

PURCHASER HEREBY ACKNOWLEDGES RECEIPT OF A COPY OF THIS CREDIT STATEMENT                         CO-APPLICANT'S SIGNATURE MEANS YOU INTEND TO APPLY FOR JOINT CREDIT

 

 

X­­­­­­­________________________________________________________________________                          X___________________________________________________________________

APPLICANT'S SIGNATURE                                                                                             CO-APPLICANT'S SIGNATURE