Is there a way to modify a securities arbitration award?

Yes, there is a way to modify a securities arbitration award in Washington. A petitioner may file a motion to modify or vacate an arbitration award with the local court. The petitioner must post a bond as security for costs, usually in the amount of the arbitration award. The court may modify or vacate the award if there was a mistake in the proceedings or a change in the law relevant to the issue. The court must consider the evidence presented at the hearing and make a decision based on justice and equity. In the event that the court grants the motion to modify or vacate the award, the parties may then negotiate a new settlement agreement. They may also agree to use a different arbitration forum to resolve the dispute. If a party fails to abide by the court’s decision to modify or vacate the award, the other party may take the offending party to court to enforce the decision. In addition, the state of Washington allows a party to appeal the court’s decision if the party believes that the decision was made in error. Overall, modifications to securities arbitration awards in Washington are possible, but typically require the assistance of a knowledgeable attorney to successfully navigate the court system.

Related FAQs

Is there a way to modify a securities arbitration award?

Related FAQs

Related Blog Posts