A) The parties to an arbitration may agree in advance, in writing, that the action of the Board of Arbitration will be unconditionally binding, in which case there will be no right of appeal. In so agreeing the parties may elect to proceed within the standard monetary limits, within specified different limits, or without any limits.
B) The parties to an arbitration may agree in advance, in writing, that the action of the Board of Arbitration will be conditionally binding, in which case there will be no right of appeal if all of the following conditions are met:
(1) At least 14 days prior to the arbitration hearing each prosecuting party shall submit in writing to the Arbitration Commissioner the lowest acceptable amount receivable through arbitration, and each defending party shall submit in writing to the Arbitration Commissioner the highest acceptable amount payable through arbitration. Said acceptable amounts shall be received by the Arbitration Commissioner no later than 14 days prior to the arbitration hearing, shall be sealed in an envelope(s) clearly identifying the case by caption and case number and retained in confidentiality pursuant to (3) below;
(2) The acceptable amounts, or, in the case of multiple prosecuting or defending parties, the aggregate acceptable amounts so submitted to the Arbitration Commissioner overlap to create a range of mutual acceptability;
(3) The acceptable amounts submitted to the Arbitration Commissioner by each party, and any resulting range of mutual acceptability, shall not in any way have been disclosed to, or become known by, any member of the Board of Arbitration prior to the rendering of their written report and award;
(4) After the hearing has been concluded and the arbitration report and award has been reduced to writing and signed by all panel members, the Arbitration Commissioner shall open the sealed envelope(s) containing the acceptable amounts submitted by each party and determine that the arbitration report and award falls within a range of mutual acceptability.
If the above conditions are met the Arbitration Commissioner shall submit an appropriate entry to the assigned judge for signature, attaching the acceptable amounts of the parties as exhibits.
Any issue raised by any party as to compliance with the above conditions shall be determined by the assigned judge in the case.