(a) An appeal from a decision of the procurement officer of a claim involving a construction contract shall be resolved by (1) binding and final arbitration under AS 09.43.010 09.43.180 (Uniform Arbitration Act) or AS 09.43.300 09.43.595 (Revised Uniform Arbitration Act), as applicable, if the claim is (A) less than $250,000 and the contractor requests arbitration of the claim; or
(B) $250,000 or more and both the agency and the contractor agree to arbitration of the claim; or
(2) a hearing under AS 36.30.630 if the claim is not handled by arbitration under (1) of this subsection.
(b) In this section, a claim includes all issues, causes of action, and controversies arising from a construction contract for which a contractor or the contracting agency asserts compensation is due.