FSCO puts out request for arbitration services

The Financial Services Commission of Ontario has issued a request for proposal for arbitration services, after continuing to face a backlog.

FSCO had previously entered into an agreement with ADR Chambers to help eliminate its mediation backlog and assist with the growing number of arbitration files. The commission and ADR recently eliminated the backlog of 30,000 mediation files.

“FSCO correctly anticipated that as mediation files move through the system, an increased demand would develop in arbitration,” the regulator said on its website.

“While FSCO is no longer assigning mediation files to ADRC, there is an ongoing need for arbitration services. FSCO will be increasing the monthly assignment of arbitration files to ADR from 500 to 750 files per month, beginning this month.”

FSCO has issued the RFP through MERX, the electronic tendering system used by the provincial government.

“An independent Fairness Commissioner is being retained to monitor the procurement process,” FSCO noted. “FSCO expects to have the contract in place by June. Once a new contract is in place, files will no longer be assigned under the current contract.”