What is a motion to vacate, modify or correct an arbitration award?
A motion to vacate, modify, or correct an arbitration award is a procedure that is available in Delaware to challenge an arbitration award. This motion is typically made by one of the parties to the arbitration. It can be used to set aside or modify an arbitration award if certain grounds are met. In Delaware, the motion can be made if certain defects exist in the arbitration proceedings. Examples of defects include fraud, corruption, misconduct, partiality of the arbitrator, and other issues that affected the fairness of the proceedings. The motion can also be made if errors occurred in the calculation of damages or other relief, or the award was for an amount or relief not authorized by the arbitration agreement. The motion must be filed within 90 days of the award being issued, or within 30 days of when the movant should have discovered the defect or error. If the motion is contested, then the parties to the arbitration must present argument in court and provide evidence to support their arguments. The court then decides whether to vacate, modify, or correct the arbitration award. If the court finds in favor of the movant, then the award will be vacated, modified, or corrected as appropriate. There is no guarantee that a motion to vacate, modify, or correct an arbitration award will result in a desired outcome, but it is an available remedy in Delaware.
Related FAQs
Can an arbitrator award punitive damages?What is the importance of confidentiality in arbitration?
Can arbitration awards be appealed?
How long does an arbitration process typically take?
What kind of matters can be arbitrated?
Are there any special considerations for securities arbitration?
What is a class action arbitration?
How do I challenge the jurisdiction of an arbitrator?
What factors should I consider when selecting an arbitration forum?
What is the arbitration clause in a contract?
Related Blog Posts
Unlocking the Basics of Arbitration Law: What You Need to Know - July 31, 2023Top 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