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Top 10 ways to Be a Better Arbitrator
- Maintain control over all arbitration conferences and hearings from the outset. Set "ground rules" of behavior at the beginning-and be consistent about enforcing them!
- Be familiar with, understand and be able to interpret the FINRA Code of Arbitration Procedure.
- Be fully prepared for all conferences and hearings by reading the pertinent documents in advance, including the Code of Ethics for Arbitrators in Commercial Arbitration available on FINRA's website.
- Be punctual in convening all conferences and hearings. If delayed, notify the administrative staff as soon as possible.
- Discourage abuses of the process, such as: unreasonable requests for discovery, last-minute requests for recusal, redundant evidence or testimony, or procrastination in scheduling.
- Remember your authority if and when parties fail to comply with your orders or directives.
- Do not use or tolerate hostile, demeaning or humiliating words in written or oral communications among lawyers, parties, witnesses or the administrative staff.
- Make all reasonable efforts to decide promptly all matters presented for decision.
- The administrative staff is an integral part of the alternative dispute resolution process. Treat them with courtesy and respect at all times.
- Understand and comply with the policies of Dispute Resolution regarding reimbursement for expenses and arbitrator honorarium.