Do securities arbitration awards require payment of costs and attorney fees?

In Virginia, securities arbitration awards can require payment of costs and attorney fees. However, it is ultimately up to the arbitrators to decide if payment of costs and attorney fees are appropriate and reasonable in any given case. It is important to understand that securities arbitration is a form of alternative dispute resolution. It is an alternate way to settle disputes outside of the traditional court system, which can often be more cost-effective and less formal. But just like in court, the arbitrator has the power to order parties to pay costs and fees associated with the arbitration process. Generally, attorneys representing parties in securities arbitration will request that the opposing party pay for the associated costs and attorney fees. This could include fees related to filing documents, witness testimony, and other costs associated with the arbitration process. The arbitrator will then consider the request and, if appropriate, grant it. Additionally, an award for costs or attorney fees can also be made if the arbitrator determines that one of the parties acted in bad faith or was grossly negligent. If this happens, the award could require payment of costs and attorney fees that the bad-faith party must pay to the other party. Overall, it is up to the arbitrators to decide if costs and attorney fees are appropriate and reasonable in any given case. But it is important to note that such awards do exist in Virginia securities arbitration law, and that they could become part of any award if the arbitrator determines them to be necessary.

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Do securities arbitration awards require payment of costs and attorney fees?

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