Railroad Competition, Arbitration, and Service Act of 2002

Railroad Competition, Arbitration, and Service Act of 2002 - Amends Federal transportation law to declare the primary objectives of U.S. rail transportation policy with respect to rail carrier competition, reasonable rates, and consistent and efficient rail transportation service for shippers.

Requires arbitration of certain rail rate, service, and other disputes according to specified procedures.

Prohibits the Surface Transportation Board from issuing a railroad construction and operation certificate authorizing a specified activity, or exempting from certificate requirements an activity involving a railroad line interest transfer by a Class I rail carrier to a Class II or III rail carrier, if the activity directly or indirectly would result in a restriction of: (1) the ability of the Class II or Class III rail carrier to interchange traffic with other carriers; or (2) competition between or among rail carriers in the region affected by the activity in a manner or to an extent that would violate Federal antitrust laws. Prescribes a process for review of any alleged restriction.

Authorizes any person who uses or seeks to use rail service for major train load shipments to or from a facility that has physical access solely to one rail carrier to request, according to a specified procedure, that rail service for such shipments be provided by an existing Class I, Class II, or Class III rail carrier, or a new rail service meeting certain requirements.