What is the process for amending a securities arbitration award?

The process for amending a securities arbitration award in California begins with a written motion by one of the parties or the arbitrator to amend. The motion must include an explanation of the proposed amendment and the reason for the request. The motion must also be served to all parties of the arbitration, after which they have the chance to submit a response to the motion. Once the motion has been filed with the court, the court will decide whether or not to grant the motion; this decision is made based upon the documents and evidence presented. If the court approves the motion, the arbitrator will enter a new award reflecting the amended terms. In some cases, the parties may decide to file an appeal of the amended award. If they do so, they must provide an explanation of why they believe the award should not be amended, which can be done by filing a motion with the court. The court will then consider the motion and make a decision based upon the evidence and arguments presented. In either scenario, the amended award is binding on the parties and must be upheld. Therefore, it is important to ensure that all parties to the arbitration are in agreement with any proposed changes prior to filing the motion. This ensures that the arbitration process is fair and that any dispute between the parties is resolved in an accurate and timely fashion.

Related FAQs

What is the process for amending a securities arbitration award?

Related FAQs

Related Blog Posts