Arbitration

NFA offers an affordable and efficient arbitration program to help customers and Members resolve futures and forex-related disputes. Arbitration is a process where the parties present their arguments and supporting evidence before an impartial third party (or panel) who decides how the matter should be resolved. Arbitration is a popular dispute resolution alternative to time-consuming and costly litigation. A party does not need a lawyer to pursue a claim at NFA.

In spite of the Coronavirus (COVID-19) pandemic, NFA's Arbitration staff continue to process claims as usual. To ensure timely claim processing, file any new NFA customer or Member arbitration claim online rather than via mail.

 

Notice of Intent

If you are considering filing a claim and are approaching the two-year time limit for filing a claim, you should consider submitting a Notice of Intent. A Notice of Intent does not obligate you to file a claim, but it temporarily suspends the two-year time limit to provide you with extra time to file a claim.

NFA must receive a Notice of Intent within the two-year time limit period in order to extend the time period allowed to file a claim.

Filing a Claim

Customer arbitration is designed for futures-related or forex-related disputes involving customers and NFA Members, their employees and Associates. You should consider filing a claim if you are a customer and you believe you've lost money because of unfair or improper treatment by an NFA Member. A PDF version of the Claim Form is available under Arbitration Resources.

NFA Rulebook

Code of Arbitration
NFA's Code of Arbitration applies to all customer arbitration cases.

Filing Fees
A detailed table of filing fees can be found in NFA's Code of Arbitration.

 

 

NFA's Arbitration Online Payment System allows individuals to pay hearing and filing fees associated with an arbitration case. The filing party is responsible for filing and hearing fees.

 

 

Individuals may access information about their current arbitration cases.

Notice of Intent

If you are considering filing a claim and are approaching the two-year time limit for filing a claim, you should consider submitting a Notice of Intent. A Notice of Intent does not obligate you to file a claim, but it temporarily suspends the two-year time limit to provide you with extra time to file a claim.

NFA must receive a Notice of Intent within the two-year time limit period in order to extend the time period allowed to file a claim.


Filing a Claim

Member arbitration is designed for disputes between and among NFA Members and Associates. If you are an NFA Member and your dispute involves another NFA Member, with certain exceptions, you are required to file your claim at NFA. NFA Members or Associates who are trying to recover a debit balance from a customer, can also file an arbitration claim with NFA. If you are an NFA Associate or if your claim is against an NFA Associate, you are not required to file a claim at NFA unless there is a contract requiring NFA arbitration, though you are free to do so. A PDF version of the Claim Form is available under Arbitration Resources.

NFA Rulebook

Member Arbitration Rules
NFA's Member Arbitration Rules applies to all Member arbitration cases.

Filing Fees for NFA Members
A detailed table of Member filing fees can be found in NFA's Member Arbitration Rules.

 

 

NFA's Arbitration Online Payment System allows individuals to pay hearing and filing fees associated with an arbitration case. The filing party is responsible for filing and hearing fee.

 

 

Individuals may access information about their current arbitration cases.

 

The success of NFA's Arbitration Program is directly tied to the quality of the individuals who serve as arbitrators. There are currently over 1,700 individuals on NFA's arbitrator roster. Arbitrators come from various professions and backgrounds, but the skills they share are integrity, impartiality and sound judgment. Technical expertise in the commodity futures markets is not a requirement.

Apply to Be an NFA Arbitrator

To apply to become an NFA arbitrator, you must complete an Arbitrator Profile using NFA's online system. While training is essentially on-the-job, once you agree to serve on a case, NFA offers online training to help you meet your mandatory training requirements and understand your responsibilities as an NFA arbitrator. Technical expertise in the commodity futures markets is not a requirement.

Arbitrator Training

NFA's arbitrator training program includes the modules and webinar below, and completing any one module satisfies an arbitrator's training requirement for three years.

Arbitrator Training Modules

Requests for Pre-Hearing Decisions
Learn about handling requests for pre-hearing decisions or motions. (Approx. 30 - 45min)

Arbitrator Basics: A Refresher Course
Review the basics of serving as an NFA arbitrator and what is expected from the time of appointment through the conclusion of the case. (Approx. 30 - 45min)

Arbitrator Webinar Recording

Conducting a Virtual Arbitration Hearing Webinar
Learn tips and guidelines for conducting a virtual arbitration hearing, as well as an overview of where arbitrators can find useful information and resources on NFA's website. (Approx. 40min)

Create, view, or edit your profile.
See system requirements.

 

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Mediation

As part of NFA's arbitration process, NFA refers every claim to mediation.

If both parties agree to engage in mediation, they submit their dispute to a neutral party—the mediator—who works with them to reach a mutually agreeable settlement. The mediator listens objectively to the parties and may suggest solutions that they have not considered on their own. NFA pays for mediation if the parties use the service selected by NFA. Mediation for NFA's cases is provided by:

Joan Protess and Associates
(312) 553-5559
http://www.mediatenow.net/
Contact: Joan Protess

Arbitration Statistics

NFA's arbitration statistics display historic data regarding arbitration cases.

Arbitration Resource Library

NFA provides a resource library for parties engaged in customer or Member arbitration, as well as for arbitrators.

FAQs

NFA's FAQs provide answers to frequently-asked questions regarding NFA arbitration.

Contact us

Visit our Contact page if you need further assistance.