What is the process for amending a securities arbitration award?

In North Dakota, the process for amending a securities arbitration award involves several steps. First, either the claimant or the respondent must file a motion to amend the award with the American Arbitration Association (AAA). The motion must include the reasons for the amendment and the specific changes that are being requested. The other party is then given an opportunity to respond to the motion. After both sides have been heard, a hearing is then scheduled, at which time the arbitrator will review both parties’ arguments and make a decision as to whether or not the award should be amended. The arbitrator may also issue an order for arbitration on the matter. If the arbitrator decides in favor of amendment, the arbitrator will dictate the exact changes to be made to the award. The arbitrator’s ruling may be appealed within 10 days of its issuance, however, such an appeal will not stay the ruling and the motion will still be considered final. If the parties involved reach an agreement on the amendment, the arbitrator will not have a say and the amendment will be accepted. The arbitrator’s final decision is only binding on the parties involved and must be filed with the AAA for it to take effect.

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What is the process for amending a securities arbitration award?

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