ARBITRATION
AMERICAN GOLD RESERVE LLC VALUES ITS CUSTOMER RELATIONSHIPS AND WILL STRIVE TO RESOLVE ANY COMPLAINTS DIRECTLY WITH ITS CUSTOMERS. IN THE EVENT A RESOLUTION CANNOT BE REACHED, THE CUSTOMER AND AMERICAN GOLD RESERVE LLC AGREE THAT ANY AND ALL DISPUTES, CLAIMS, DEMANDS, CAUSES OF ACTION, OR CONTROVERSIES ARISING OUT OF OR RELATING TO A TRANSACTION BETWEEN THE CUSTOMER AND AMERICAN GOLD RESERVE LLC SHALL BE RESOLVED EXCLUSIVELY BY BINDING ARBITRATION. THE CUSTOMER AND AMERICAN GOLD RESERVE LLC AGREE THAT THE ARBITRATION SHALL BE CONDUCTED IN ACCORDANCE WITH THE COMMERCIAL RULES OF THE AMERICAN ARBITRATION ASSOCIATION; PROVIDED HOWEVER, THAT THE ARBITRATOR SHALL ALLOW DISCOVERY AUTHORIZED UNDER THE TEXAS RULES OF CIVIL PROCEDURE. THE CUSTOMER AND AMERICAN GOLD RESERVE LLC FURTHER AGREE THAT AN AWARD BY THE ARBITRATOR MAY BE ENTERED IN ANY COURT OF COMPETENT JURISDICTION. IT IS UNDERSTOOD THAT THE CUSTOMER AND AMERICAN GOLD RESERVE LLC ARE WAIVING ALL RIGHTS TO A TRIAL OR HEARING BEFORE A JUDGE AND A JURY AND ALL DISPUTES AND CLAIMS ARE SUBJECT TO ARBITRATION UNDER THIS AGREEMENT. ALL COVERED CLAIMS UNDER THIS AGREEMENT MUST BE BROUGHT IN THE PARTY’S INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE OR REPRESENTATIVE PROCEEDING.
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