Commodity and Precious Metals Arbitration

South Florida Commodities and Precious Metals  Arbitration Attorney, Russell L. Forkey, Esq.

On this page of our site, we have provided certain generic information relative to the arbitration of commodity futures and precious metals disputes.  Please keep in mind that this discussion is not complete in all material respects.  It is being provided for educational purposes only and should not be relied upon as legal advice.  If you have any questions concerning a particular arbitration agreement to which you are a party or which you many be able to claim third party beneficiary status, please contact an experienced legal professional.

As the reader can see, this section of our site deals with commodities and precious metals arbitration.  If you are dealing in commodity futures, you can institute an arbitration with the National Futures Association (NFA).  How to do this is discussed on another page of this section.  Please follow the highlighted link.  An NFA arbitration is usually heard in the area where the client resides.  The respondents in the case can be the firm, the associated person or both.  Even the licensed manager can be named for his or hers failure to reasonably supervise the associated person.

Disputes between precious metals firms and clients that are arbitrated are procedurally more difficult.  This is because most precious metals arbitration agreements are only between the customer and the firm.  Thus, in order to bring all of the principals and employees, of the precious metals firm before the arbitration panel, the client needs to file a lawsuit against the precious metals firm and name as additional defendants all of the individual fraudsters that you feel are liable to you for your losses.  These parties than usually file a motion to compel arbitration, which most likely will be granted.  Then you will have all of the wrongdoers before the arbitration panel so that a full and complete award can be rendered.  If the defendants named in the lawsuit do not file a motion to compel arbitration, then the case will simply proceed forward in court, before a jury, which is where you would most likely want to be in the first place.

The procedural tactic, of filing in court, is important in that most of the illegally gotten gains that are received by the precious metals firms are distributed to the wrongdoers so that a substantial award against the precious metals firm might never be paid.  The company will close down and the perpetrators will just move on and set up another company.

Most precious metals agreements call for arbitration before the American Arbitration Association (AAA).  How to commence an arbitration before the AAA is discussed elsewhere on this site.  Please follow the highlighted link to obtain this information.

Finally, the precious metals arbitration agreement also contains a venue provision that usually requires that the arbitration be heard in a local close to the office of the precious metals firm.

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With extensive courtroom, arbitration and mediation experience and an in-depth understanding of securities law, commodities and precious metals matters, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.