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An arbitration agreement should include several key elements for effective negotiation. First, it’s important to determine how arbitrators will be selected, including whether to use the rules of the American Arbitration Association, JAMS, or another organization. Second, the number of arbitrators involved should be clearly specified. Third, the agreement should outline the scope of discovery, particularly whether depositions will be permitted. Fourth, it’s essential to decide if a reasoned decision or just an award will be issued. Lastly, consider including a provision for appellate rights; otherwise, the review will depend on state law regarding arbitration decisions.