5.01.1.1 Where any dispute arises from or in connection with a Contract (excluding deliverable commodity futures contracts), other than a complaint of a disciplinary nature, the disputing Clearing Members shall attempt to settle the dispute through good faith negotiations, failing which the disputing Clearing Members may choose to settle the dispute, by such other means they elect, including arbitration before the SIAC in accordance with the rules of the SIAC.

5.01.2.1 Where any dispute arises from or in connection with a commodity futures contract, other than a complaint of a disciplinary nature, the parties shall attempt to settle the dispute, through the claim procedure set forth or referred to in the relevant Contract Specifications. In the absence of an applicable claim procedure, the parties shall attempt to settle the dispute through good faith negotiations, failing which, at the election of any disputing Clearing Member, the dispute shall be settled by arbitration before the SIAC in accordance with the rules of the SIAC.

5.01.2.2 Unless otherwise specified under the claim procedure set forth or referred to in the relevant Contract Specifications, if any, the award of the arbitrator or panel of arbitrators shall be binding on Sellers and Buyers.

5.01.2.3 The failure or refusal of a Clearing Member to settle the dispute under the claim procedure set forth or referred to in the relevant Contract Specifications, or arbitrate under this Rule where the other counterparty elects to do so shall constitute a breach of this Rules.

5.01.2.4 Subject to the claim procedure set forth or referred to in the relevant Contract Specifications, Clearing Members shall cause their Sellers and Buyers and their respective assigns to agree that where there is a dispute as a result of or arising in connection with a deliverable commodity futures contract: