This summary is not the rule. The rule text controls.
I don't have the actual text of Rule 212.40 in front of me, so I can't give you an accurate summary of what it says. Court rule numbers and content vary by state, and I don't want to guess and give you wrong information about something as important as your legal rights.
If you can paste the text of the rule here, I'll break it down in plain language for you. Court arbitration rules typically cover things like which cases must go through arbitration before trial, how arbitrators are chosen, what happens at an arbitration hearing, and what steps you take if you disagree with the arbitrator's decision. Once I can see the specific rule, I can tell you exactly how it applies to your situation.