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NCJ Number: 99559 Add to Shopping cart Find in a Library
Title: Arbitration - A Way to Resolve Futures Related Disputes
Corporate Author: National Futures Assoc
United States of America
Date Published: Unknown
Page Count: 21
Sponsoring Agency: National Futures Assoc
Chicago, IL 60606
National Institute of Justice/
Rockville, MD 20849
NCJRS Photocopy Services
Rockville, MD 20849-6000
Sale Source: National Institute of Justice/
NCJRS paper reproduction
Box 6000, Dept F
Rockville, MD 20849
United States of America

NCJRS Photocopy Services
Box 6000
Rockville, MD 20849-6000
United States of America
Language: English
Country: United States of America
Annotation: This pamphlet details the nationwide arbitration system developed by the National Futures Association (NFA), a self-regulatory organization devoted to maintaining the integrity of the commodity futures industry.
Abstract: Arbitration provides a method for the fair and impartial resolution of disputes. Disputes submitted to NFA for arbitration normally involve a customer request for compensation for losses alleged to have been incurred because of some improper action of a futures trading professional or firm. Subject to certain exceptions, arbitration is mandatory for all NFA member firms and their employees. At its discretion, the NFA also may provide arbitration between two customers or between NFA members and associates. Once the parties have agreed to arbitration, disputes can be resolved only through NFA unless both parties agree to some other method. Parties pay their own legal and travel expenses and a filing fee based on the amount of the claim or counterclaim. In arbitration, the disputants submit their arguments and evidence to a neutral arbitrator or panel and agree to be bound by the NFA decision. Decisions and monetary awards generally are nonappealable, are binding on NFA members, and court-enforceable. The NFA maintains a list of arbitrators knowledgeable in futures trading in several States. Steps involved in arbitration are delineated. A glossary is included.
Index Term(s): Alternative dispute settlement; Commercial arbitration; Commodities fraud
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