[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR2201.4]

[Page 70-71]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 2200_EXCHANGES: GENERAL PROCEDURES--Table of Contents
 
              Subpart 2201_Exchanges_Specific Requirements
 
Sec. 2201.4  Bargaining; arbitration.

    (a) Unless the parties to an exchange agree in writing to suspend or 
modify the deadlines contained in paragraphs (a)(1) through (a)(4) of 
this section, the parties shall adhere to the following schedule:

[[Page 71]]

    (1) Within 180 days from the date of receipt of the appraisal(s) for 
review and approval by the authorized officer, the parties to an 
exchange may agree on the appraised values of the lands involved in an 
exchange. If the parties cannot agree on the appraised values, they may 
agree to initiate a process of bargaining or some other process to 
resolve the dispute over values. Bargaining or any other process shall 
be based on an objective analysis of the valuation in the appraisal 
report(s) and shall be a means of reconciling differences in such 
reports. Bargaining or another process to determine values may involve 
one or more of the following actions:
    (i) Submission of the disputed appraisal(s) to another qualified 
appraiser for review;
    (ii) Request for additional appraisals;
    (iii) Involvement of an impartial third party to facilitate 
resolution of the value disputes; or
    (iv) Use of some other acceptable and commonly recognized practice 
for resolving value disputes.


Any agreement based upon bargaining shall be in writing and made part of 
the administrative record of the exchange. Such agreement shall contain 
a reference to all relevant appraisal information and state how the 
parties reconciled or compromised appraisal information to arrive at an 
agreement based on market value.
    (2) If within 180 days from the date of receipt of the appraisal(s) 
for review and approval by the authorized officer, the parties to an 
exchange cannot agree on values but wish to continue with the land 
exchange, the appraisal(s) may, at the option of either party, be 
submitted to arbitration unless, in lieu of arbitration, the parties 
have employed a process of bargaining or some other process to determine 
values. If arbitration occurs, it shall be conducted in accordance with 
the real estate valuation arbitration rules of the American Arbitration 
Association. The Secretary or an official to whom such authority has 
been delegated shall appoint an arbitrator from a list provided by the 
American Arbitration Association.
    (3) Within 30 days after completion of arbitration, the parties 
involved in the exchange shall determine whether to proceed with the 
exchange, modify the exchange to reflect the findings of the arbitration 
or any other factors, or withdraw from the exchange. A decision to 
withdraw from the exchange may be made upon written notice by either 
party at this time or at any other time prior to entering into a binding 
exchange agreement.
    (4) If the parties agree to proceed with an exchange after 
arbitration, the values established by arbitration are binding upon all 
parties for a period not to exceed 2 years from the date of the 
arbitration decision.
    (b) Arbitration is limited to the disputed valuation of the lands 
involved in a proposed exchange, and an arbitrator's award decision 
shall be limited to the value estimate(s) of the contested appraisal(s). 
An award decision shall not include recommendations regarding the terms 
of a proposed exchange, nor shall an award decision infringe upon the 
authority of the Secretary to make all decisions regarding management of 
Federal lands and to make public interest determinations.