Arbitration Process
Initial statements of claim must be filed in an Arbitration 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 Arbitration 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 ex