(d) If a request for procedural review of the arbitration procedure is received within twenty (20) days, the funds deposited shall be retained in the escrow or trust account until the review is completed. (nar.realtor)
The court rejected this argument, citing evidence that the Board's procedural review tribunal had considered this and rejected the argument because the Listing Broker actually served on the Board's Professional Standards Committee, and that fact did not need to be disclosed to the other party. (nar.realtor)
However, if procedural review is requested, the award is not considered final and binding until after the Board of Directors has concluded that the hearing was conducted in a manner consistent with the Board's procedures and the parties had been afforded due process. (nar.realtor)