This Arbitration Agreement (“Agreement”) is executed contemporaneously with, and as an Inducement and consideration for, a peer to peer temporary rental agreement. The parties hereto acknowledge that this Agreement is part of the Rental Agreement and this clause within the Rental Agreement evidences a transaction. This Agreement is binding and inures to the benefit of the Renter, the Equipment Owner and SportShare LLC.
All Incident Reports, disputes and controversies arising out of or relating in any way to rental transaction or occupancy of any goods offered in connection with the Rental Agreement, inducing, but not limited to, any negotiations between the parties, performance, delivery, condition, repair or servicing of the sporting goods and/or equipment, including reports of equitable relief or reports based on contract, tort, statute, warranty, or any alleged breach, negligence, fraud, misrepresentation or suppression of fact will to the fullest extent permitted by Federal law be resolved by binding arbitration administered by SportShare LLC. Notwithstanding the above, no act to take or dispose of sporting goods/equipment shall be subject to this Arbitration Agreement.
Any challenges to the validity or enforceability of this Agreement shall be determined by the arbitrator(s). Arbitration may be initiated by any party by sending written notice of its intention to arbitrate. The Notice will contain a description of the Incident Report. The arbitrator will deliver the decision or award in writing with a summary of the reasons for the decision or award. The decision or award shall be final and binding on all parties.
This Agreement is an election to resolve Incident Reports, disputes and controversies by arbitration rather than by judicial process. It is understood that the parties waive any right to a jury trial or a trial in court. The parties understand that the rules applicable to arbitrations and the rights of parties in arbitrations differ from the rules and rights applicable in court.