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For Immediate Release
February 14, 2001
NFA LAUNCHES NEW PRE-ARBITRATION MEDIATION PROGRAM
February 14, Chicago - National Futures Association, a congressionally authorized self-regulatory organization for the U.S. futures industry, announced today that it is now offering a new in-house mediation service to supplement its highly successful dispute resolution program. This new service allows parties to mediate at NFA without having to file an arbitration claim.
"Using mediation as a separate option before filing an arbitration claim or lawsuit will encourage settlement shortly after a dispute arises, which not only saves time and money but may preserve the parties' business relationship as well," says NFA Director of Arbitration and Mediation Cynthia Cain.
WHAT IS MEDIATION?
WHAT ARE SOME OTHER ADVANTAGES OF MEDIATION?
Another advantage of choosing mediation at NFA is NFA's experience. NFA has been offering mediation as part of the arbitration process since 1991-with successful results. Approximately 70 percent of NFA's mediation cases settle. NFA's in-house mediators have been mediating arbitration claims over $150,000 since 1997.
HOW MUCH DOES MEDIATION COST?
This enhancement to NFA's dispute resolution program is one of many planned for this year. Some upcoming initiatives the Association is looking forward to launching in 2001 are:
For more information about NFA's new mediation program, visit NFA's web site at www.nfa.futures.org or call toll free (800) 621-3570.