What is the process for collecting a securities arbitration award?

The process for collecting a securities arbitration award in Washington can be complicated. It begins with the arbitration award being entered in the court of appropriate jurisdiction. After that, the person or company owing the award must file a motion known as a Satisfaction of Judgment with the court, which is a request for the court to issue a release of the award to the claimant. Once the motion is granted by the court, the claimant can file a Writ of Execution. This is a legal document issued by the court that instructs the Sheriff to levy a levy against the assets of the person or company owing the award to collect the award amount. The Sheriff will then contact the debtor in order to collect the award. If the debtor is not able to pay the award in full, then they may enter into a payment plan agreement with the claimant. If the debtor refuses to pay, then the Sheriff may place a lien on their assets, which will give the claimant additional legal protection. Finally, the claimant can pursue other legal options, such as filing a lawsuit against the debtor, if the debtor refuses to comply.

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What is the process for collecting a securities arbitration award?

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