The Arbitration Process
Initial statements of claim must be filed in a Submission Agreement to the Director of Dispute Resolution, who will serve the statement of claim to the other party. The submission agreement must specify the relevant facts of the claim and the requested monetary remedy or award. Filing fees must be paid with the submission. Respondents have 45 days in which to respond by delivering to the Director and the other parties the signed Submission Agreement, answering the claims in the shape of a defense, and issuing any desired counterclaims. The claimant then has 20 days to respond to any counterclaims.
For claims involving a customer, the majority of arbitrators must be public arbitrators. A panel will consist of one arbitrator for claims of $50,000 or less. Claims in excess of $50,000, but no more than $100,000, have one arbitrator unless the parties agree in writing to three. Claims in