(a) adequate and timely notice of all proceedings must be given to the necessary parties;

(b) the time, place and manner established for arbitration must be fair and reasonably convenient for all parties;

(c) the first arbitration hearing shall be held within 60 days of the arbitrator’s receipt of the file. The arbitrator shall issue a written decision within 30 days after the closing of the record. The arbitrator shall establish reasonable time periods for all other procedural matters;

(d) appropriate records shall be maintained for all claims. All records shall be transferred to the board upon completion of the arbitration;

(e) a written record of all hearings shall be prepared and maintained;

(f) any proposed settlement of a claim must be submitted in writing by the parties to the arbitrator for approval, and is subject to a finding by the arbitrator that the settlement is consistent with the relevant law and facts.