ARBITRATION PROCEDURE

IDA Securities Dispute Resolution Program for
British Columbia

The IDA Securities Arbitration Program proceeds under the British Columbia International Commercial Arbitration Centre"s Domestic Commercial Arbitration Rules of Procedure as amended June 1, 1998 (the "Rules") with the modifications described below.

1. Except with the consent of the parties to the arbitration, no claim for an amount in excess of $100,000 plus interest and costs, shall be submitted for arbitration and the arbitrator shall not be empowered to grant an award in excess of $100,000 plus interest and costs. The parties to the arbitration may agree that the claim may exceed that amount and that the arbitrator shall not be so limited in the amount of the award to be granted.

2. No claim against a dealer arising out of an event or events which occurred prior to January 1, 1992 shall be required to be submitted for arbitration unless consented to by the parties to the arbitration. If the claim arises from events occurring in part before and in part after January 1, 1992, the arbitrator shall determine whether the events which took place prior to January 1, 1992 are integral to the entire claim and, if so, shall arbitrate the dispute including those events which took place before January 1, 1992.

3. No claim for which an action has been commenced in any court of competent jurisdiction by any of the parties to the intended arbitration shall be submitted for arbitration under this program except by consent of all parties to the arbitration.

4. The arbitration is commenced by submission to the Centre of a completed application form by the client ("claimant") or by equivalent written application. (Blank application forms are available from the Centre or may be downloaded from this site.) The Centre will review the application (see point 5 below). The Centre will confirm commencement of the arbitration in a letter addressed to both sides and will forward a copy of the application and documents to the brokerage firm ("respondent").

5. Upon receipt of a completed application and the required application fee, the Centre will review the documents to ensure that attempts have been made by the client to resolve the matter directly with the brokerage firm prior to proceeding to arbitration. If the claim appears to be frivolous or vexatious the Centre may advise the client that it is not appropriate for arbitration under the program, and the client may pursue other remedies.

6. The Centre shall have the authority to proceed with the appointment of an arbitrator upon review of an application and notification to the parties of commencement of the arbitration.

7. Rule 25 ("Confidentiality") is modified as follows: The parties consent to the disclosure to the Investment Dealers Association of information with respect to the arbitration program for the purpose of assessing the success of the program. A summary of each dispute arbitrated shall, upon completion of the arbitration, be prepared by the BCICAC and shall be forwarded, on a confidential basis, to the working committee established by the IDA in order to assess the results of the program.