Proposed Rule
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(additions are underscored and deletions are
CODE OF ARBITRATION
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- (i) Summary Proceeding.
The proceeding shall be conducted entirely through written submissions when:
(1) the aggregate amount of the claims (exclusive of interest and costs) does not exceed $5,000 $15,000, unless the Secretary or the Panel directs otherwise;
(2) the aggregate amount of the claims (exclusive of interest and costs) is more than $5,000 $15,000 but not more than $25,000, unless the Secretary or the Panel directs otherwise or one of the parties to the proceeding serves a written request for an oral hearing on NFA no later than 30 days after the last pleading is due; or
MEMBER RULES
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SECTION 9. HEARING
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(i) Summary Proceeding.
The proceedings shall be conducted entirely through written submissions when:
(1) the aggregate amount of the claims (exclusive of interest and costs) does not exceed $10,000 $15,000, unless the Secretary of the Panel directs otherwise;
(2) the aggregate amount of the claims (exclusive of interest and costs) is more than $10,000 $15,000 but not more than $50,000, unless the Secretary or the Panel directs otherwise or one of the parties to the proceeding serves a written request for an oral hearing on NFA no later than 30 days after the last pleading is due; or