Article 17, Code of Ethics
"In the event of contractual disputes or specific non-contractual dispute as defined in Standard of Practice 17-4 between Realtors® (princpals) associated with different firms, arising out of their relationship as Realtors®, the Realtors® shall submit the dispute to arbitration in accordance with the regulations of their Board, or Boards rather than litigate the matter.
In the event clients of Realtors® wish to arbitrate contractual disputes arising out of real estate transactions, Realtors® shall arbitrate those disputes in accordance with the regulations of their Board, provided the clients agree to be bound by the decision.
The obligation to participate in arbitration contemplated by this Article includes the obligation of Realtors® (principals) to cause their firms to aribtrate and be bound by the decision.
In addition to those areas defined as "Mandatory" arbitration, the Association shall provide arbitration in those areas defined as "Voluntary" in the Code of Ethics and Arbitration Manual providing all parties agree to be bound by any decision rendered by a Hearing Panel.
There will be an Arbitration filing fee of $300 each side. Each side shall submit a check or money order at the time the request, or response, is provided the Association.
The Association will conduct a "Mandatory" Arbitration hearing even if the respondent does not make the required deposit, and/or does not take part in any part in any duly noticed hearing.
If a dispute is resolved prior to the time the award is rendered, the Association shall refund both parties filing fee deposits.