Ask Reggi Your Question Now

Reggi is the free generative AI assistance for regulatory compliance
Ask a Question

Can I require customers to sign contracts with binding arbitration clauses in Nevada? What are the requirements?

Requirements for Contracts with Binding Arbitration Clauses in Nevada

Yes, you can require customers to sign contracts with binding arbitration clauses in Nevada, but there are certain requirements that must be met.

According to NVRS 614.020, if a controversy arises between an employer and employees that cannot be settled through mediation and conciliation, it may be submitted to a board of arbitration. A majority of the arbitrators may make a binding and valid award.

NVRS 676A.540 outlines the requirements for agreements, including those with binding arbitration clauses. An agreement must be in a record, dated and signed by the provider and the individual, and include certain information such as the services to be provided and the amount of fees to be paid. The agreement must also disclose that the individual has the right to terminate the agreement at any time without penalty or obligation, and that the individual may contact the Commissioner with any questions or complaints regarding the provider.

Additionally, NVRS 676A.540 prohibits certain provisions in agreements, such as those that limit or release the liability of any person for not performing the agreement or for violating Nevada law.

Every agreement of arbitration under NRS 614.010 to 614.080, inclusive, shall be acknowledged by the parties before a notary public or the clerk of a district court of the State. When so acknowledged a copy of the same shall be filed with and recorded by the county recorder of the county in which the arbitration is entered into, and a copy shall also be sent to the Governor, who shall file the same in the Office of the Secretary of State [2.1].

Conclusion

In summary, you can require customers to sign contracts with binding arbitration clauses in Nevada, but the agreements must meet certain requirements outlined in NVRS 614.020, NVRS 676A.540, and NVRS 614.060. It is recommended that you consult with a legal professional to ensure that your contracts comply with all applicable laws and regulations.

[2.1]:

Source(s):
Jurisdiction

Nevada