This summary is not the rule. The rule text controls.
If someone doesn't follow the arbitration rules, the court can step in and make them pay a price for it. Either the other side in the case or the arbitrator can bring this problem to the court's attention. Before anything happens, though, the court has to hold a hearing to look into what happened.
If the court decides sanctions are needed, the punishment is limited to money. The court can order the person who broke the rules to pay for arbitration costs, attorney fees, or both. The court cannot use other types of punishment, like dismissing the case or holding someone in contempt, under this specific rule.
This rule exists to keep people honest during arbitration and to make sure everyone follows the process fairly. If you're involved in arbitration and the other side isn't playing by the rules, this gives you a way to ask the court for help and possibly get compensated for extra costs caused by their actions.