7. Where conciliation does not lead to an agreement within 30 days from the date of receipt of the application for conciliation, the syndic shall send the form provided in Schedule II to the client, indicating to him the procedure and time limit for submitting the dispute to arbitration.
Where the account has a value of $1,000 or more, the syndic shall also send a conciliation report to the client and to the member by registered mail.
The conciliation report shall contain the following information:
(1) the amount of the account in dispute;
(2) the amount that the client acknowledges owing;
(3) the amount that the member acknowledges having to reimburse or is willing to accept as a settlement of the dispute.