How do I know if NFA will conduct a summary proceeding or oral hearing?
The claim amount dictates whether NFA will conduct a summary proceeding or oral hearing. In both customer and member cases, for claim amounts that do not exceed $25,000.00, NFA will generally conduct a summary proceeding. For customers whose claim amounts are between $25,000.01-$50,000, either party to the proceeding may pay an additional fee and ask that NFA conduct an oral hearing. For all other cases that exceed $50,000.00, NFA automatically holds an oral hearing.
