Court-Annexed Arbitration Act of 1987

Court-Annexed Arbitration Act of 1987 - Amends the Federal Rules of Civil Procedure to empower (on an experimental basis) specified U.S. district courts to authorize the use of arbitration. Permits such courts to: (1) allow arbitration where the parties consent; and (2) require arbitration where the relief sought consists only of money damages not in excess of $100,000.

Disallows referrals to arbitration where the action is based on an alleged violation of a right secured by the Constitution.

Grants arbitrators the power to: (1) conduct arbitration hearings; (2) administer oaths and affirmations; and (3) make awards.

Provides that the arbitration award shall be filed with the clerk of the district court and (after 30 days) entered as the judgment of the court. States that such judgment shall not: (1) be subject to review in any court of appeal; or (2) preclude any issue from being raised in any action seeking redress for a violation of any rights.

Allows any party, within 30 days after the filing of an arbitration award, to demand a trial de novo in the district court.

Requires the specified district courts to: (1) establish standards for the certification of arbitrators; (2) certify arbitrators; and (3) establish the amount of compensation that each arbitrator shall receive.

Allows the Judicial Conference of the United States to develop interim model rules for arbitration procedure.

Requires the Director of the Administrative Office of the U.S. Courts to include in its annual report on Administrative Office activities statistical information regarding the implementation of this Act. Requires the Federal Judicial Center to report to the Congress on the implementation of this Act.

Authorizes appropriations.