Who pays for the costs of securities arbitration hearings?

In North Dakota, both parties involved in a securities arbitration hearing are responsible for split costs associated with the hearing. The cost of arbitrators, transcriptions, and other administrative costs are shared by both the claimant and the respondent. The amount each party pays is determined by the arbitration panel, and typically the party that is found to be responsible for any dispute or damages will be responsible for more of the costs than the party that has no responsibility. In addition to the cost of arbitration hearings, the parties may face other costs associated with the hearing. It is possible for the parties to be responsible for their own legal expenses related to the arbitration proceedings, such as the cost of a lawyer, filing fees, and other miscellaneous expenses. In special cases, the costs can be placed solely upon one party, such as when one party requests a transcript of the proceedings and the other party does not. While the parties are ultimately responsible for their own costs, the North Dakota Code of Arbitration allows for parties to request compensation from the other party. In some cases, the party that requests compensation may retrieve all or part of the costs associated with the arbitration hearings. To request compensation, parties must file a formal motion with the arbitration panel. The cost of securities arbitration hearings are shared by both the claimant and the respondent, with the possibility of compensation for one of the parties in special cases. The amount each party is responsible for is decided by the arbitration panel, and the parties may also face additional costs associated with legal expenses.

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Who pays for the costs of securities arbitration hearings?

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