Dispute Resolution

Notice. This policy forms part of our Terms of Service. It does not override the Clearing Rulebook, which contains its own disciplinary and default-management procedures for Clearing Members.

\u00a7 1. Scope

This policy applies to every dispute, claim, or controversy arising out of or relating to the Terms of Service, the Platform, a commercial relationship with Wavestar, or the interpretation, breach, termination, or validity of any of them, regardless of the legal theory on which it is based.

\u00a7 2. Informal resolution

\u00a7 3. Mediation

If informal resolution is unsuccessful, either party may request non-binding mediation administered by the American Arbitration Association (AAA) under its Commercial Mediation Procedures, or by JAMS. The mediator is selected by agreement and, failing agreement, by the administering body. The parties share mediator fees equally and each pays its own costs. Mediation is confidential and without prejudice.

\u00a7 4. Binding arbitration

If mediation does not resolve the dispute within 60 days of initiation, the dispute will be resolved by binding arbitration administered by the AAA under its Commercial Arbitration Rules, as modified by this policy. The arbitration is final and binding; judgment on the award may be entered by any court of competent jurisdiction.

\u00a7 5. Carve-outs

The following matters are not subject to arbitration and may be pursued in a court of competent jurisdiction:

• requests for injunctive or other equitable relief to prevent infringement of intellectual property or violation of confidentiality;
• small-claims court actions within the jurisdictional limit of that court;
• enforcement of an arbitration award or mediation settlement;
• regulatory and disciplinary proceedings under the Clearing Rulebook, which are governed by the Rulebook’s own procedure.

\u00a7 6. Class-action waiver

To the maximum extent permitted by law, each party waives any right to participate in a class, collective, or representative action in relation to disputes covered by this policy. Claims may not be joined or consolidated unless all parties agree.

\u00a7 7. Costs and fees

Each party bears its own legal costs in informal resolution and mediation. In arbitration, the arbitrator has discretion to award costs and reasonable attorneys’ fees to the prevailing party in accordance with applicable law and the AAA’s rules. Filing fees and arbitrator compensation are shared in accordance with the AAA’s fee schedule.

\u00a7 8. Time limits

Any claim must be brought within one year of the date the claim arose, unless a longer period is required by applicable law. Failure to commence informal resolution or arbitration within that period is a bar to the claim.

\u00a7 9. Severability

If any provision of this policy is held unenforceable, the remainder remains in force. If the class-action waiver is held unenforceable in a particular dispute, that dispute (but not others) will be severed from arbitration and proceed in court.

\u00a7 10. Changes

We may update this policy from time to time. Material changes will be notified through the Terms of Service update mechanism and will not apply retroactively to disputes for which a Notice of Dispute has already been served.