How is an arbitration award enforced?

In Ohio, an arbitration award is enforced through judicial action. This means the award can be enforced by obtaining a court order. Generally, a court order requires the parties to do something specific, such as pay a specified sum of money or return property to the other party. When an arbitration award is entered by the court, it is considered to have the same authority as a court judgment. This means it may be enforced by any means available to enforce a court judgment. In Ohio, this may include garnishment, attachment, or even the sale of assets to satisfy the award. Once an award is entered, the parties must comply with its terms. If a party fails to comply, they may be subject to contempt of court proceedings which could result in fines or even jail time. Therefore, when an arbitration award is issued, it is important to understand and fulfill its terms. Ignoring the award or failing to comply with its terms could result in serious legal consequences. The best course of action is to promptly comply with an arbitration award in order to avoid any further complications.

Related FAQs

How do I challenge an arbitration award?
Are there any special considerations for international arbitration awards?
What is a motion to limit the scope of an arbitration?
How do I select an arbitrator?
What is a joinder of parties in arbitration?
Can I challenge an arbitrator’s decision?
What is the difference between a motion to compel arbitration and a motion to stay proceedings pending arbitration?
What is a motion to vacate an arbitration award?
Can an arbitrator award punitive damages?
Are there any defenses to an arbitration agreement?

Related Blog Posts

Unlocking the Basics of Arbitration Law: What You Need to Know - July 31, 2023
Top Tips for Navigating Arbitration Law Successfully - August 7, 2023
Comparing International and Domestic Arbitration: What Businesses Should Know - August 14, 2023
Effective Strategies for Drafting Arbitration Agreements - August 21, 2023
Common Misconceptions About Arbitration Law: What Everyone Needs to Know - August 28, 2023