What does Jury Waiver Provision mean? Read on to discover the definition & meaning of the term Jury Waiver Provision - to help you better understand the language used in insurance policies.
Jury Waiver Provision
A contractual provision by which one or both of the parties agree to waive the right to have a jury trial, replacing it with a bench trial as the default process to resolve disputes under the contract. Jury waiver provisions are frequently included in contracts because jury trials can be time-consuming and expensive. Furthermore, juries are perceived as more likely than judges to make extremely large damages awards.
We hope the you have a better understanding of the meaning of Jury Waiver Provision.