Section 1: Agreement of the Parties.

The parties shall be deemed to have made these Rules a part of their arbitration agreement whenever they have provided for arbitration under the Home Builders of Greater Fox Valley (hereinafter called HBAGFV) Arbitration Rules. These Rules and any amendment thereof shall apply in the form obtained at the time the arbitration is initiated.

Section 2: Name of Tribunal.

Any Tribunal constituted by the parties for the settlement of their dispute under these Rules shall be called the HBAGFV Arbitration Tribunal, hereinafter called the Tribunal.

Section 3: Administrator.

When parties agree to arbitrate under these Rules, and an arbitration is initiated hereunder, they thereby constitute HBAGFV the administrator of the arbitration. The authority and duties of the administrator are prescribed in the agreement of the parties and in these Rules.

Section 4: Delegation of Duties.

The duties of the HBAGFV under these Rules may be carried out through Tribunal Administrators, or such other officers or committees as the HBAGFV may direct.

Section 5: Panel of Arbitrators.

The HBAGFV shall establish and maintain an Panel of Construction Arbitrators, hereinafter called the Panel, and shall appoint an arbitrator or arbitrators there from as hereinafter provided. A neutral arbitrator selected by mutual choice of both parties or their appointees or appointed by the HBAGFV, is hereinafter called the arbitrator, whereas an arbitrator selected unilaterally by one party is hereinafter called the party-appointed arbitrator. The term arbitrator may hereinafter be used to refer to one arbitrator or to a Tribunal of multiple arbitrators.

Section 6: Office of Tribunal.

The general office of a Tribunal is the headquarters of the HBAGFV, which may, however assign the administration of an arbitration to any other convenient location.

Section 7: Initiation Under an Arbitration Provision In A Contract.

The initiating party shall, within the time specified by the contract, if any, file with the other party a notice of an intention to arbitrate (Demand), which notice shall obtain a statement setting forth the nature of the dispute, the amount invoiced, if any, and the remedy sought; and shall file two (2) copies of said notice together with two (2) copies of the arbitration provision of the contract and the appropriate filing fee as provided in Section Forty-seven (47) hereunder at the Office of the HBAGFV, 555 S. Randall Road, #201, St. Charles, Illinois 60174, or such other address as may, from time to time, obtain.

The HBAGFV shall give notice of such filing to the other party. A party upon whom the demand for arbitration is made may file an answering statement in duplicate with the HBAGFV within seven (7) days after notice of the HBAGFV, simultaneously sending a copy to the other party. If a monetary claim is made in the answer, the appropriate administrative fee provided in the Fee Schedule shall be forwarded to the HBAGFV with the answer. If no answer is filed within the stated time, it will be treated as a denial of the claim. Failure to file an answer shall not operate to delay the arbitration.

Section 8: Change of Claim or Counterclaim.

After filing of the claim or counterclaim, if either party desires to make any new or different claim or counterclaim, same shall be made in writing and filed with the HBAGFV, and a copy thereof shall be mailed to the other party who shall have a period of seven (7) days from the date of such mailing within which to file an answer with the HBAGFV. However, after the arbitrator is appointed no new or different claim or counterclaim may be submitted without the arbitrator's consent.

Section 9: Initiation Under a Submission.

Parties to any existing dispute may commence an arbitration under these Rules by filing at the HBAGFV General Office two (2) copies of a written agreement to arbitrate under these Rules (Submission), signed by the parties. It shall contain a statement of the matter in dispute, the amount of money involved, if any, and the remedy sought, together with the appropriate filing fee as provided in the Fee Schedule.

Section 10: Pre-Hearing Conference.

At the request of the parties or either party or the discretion of the HBAGFV, a pre-hearing conference with the administrator and the parties or their council will be scheduled in appropriate cases to arrange for an exchange of information and the stipulation of uncontested facts so as to expedite the arbitration proceedings.

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