Is there a difference between a tentative and a final award in a securities arbitration proceeding?
A tentative award and a final award in a securities arbitration proceeding are two very different things. A tentative award is issued by the arbitrator when they have finished hearing all the evidence presented in the case. This award is not legally binding and it is always subject to review and appeal by either parties. The tentative award will outline the issues in the case, the reasons for the decision, and the final award amount. On the other hand, a final award is the legally binding decision of the arbitrator once all appeals have been heard and the decision is no longer able to be changed. A final award will include the same elements as the tentative award but will no longer be subject to revision or appeal. In Florida, when a final award has been issued, it must be submitted to a court of law in order to be enforceable. In summary, a tentative award is issued by an arbitrator after they have heard all the evidence in a case. However, this award is provisional and can be appealed by either party. A final award, on the other hand, is the legally binding decision of the arbitrator and is enforceable when it is submitted to the court.
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