Is there a timeline for enforcing a securities arbitration award?
Yes, there is a timeline for enforcing a securities arbitration award in Florida. The timeline is set out in the Florida Arbitration Code. Once an award is issued, either party may move to confirm the award. The motion must be filed within four (4) years of the date of the award. Once the motion is made, the court shall enter an order confirming the award unless the party opposing the motion has grounds to vacate or modify the award. If the award is not confirmed, either party may appeal the decision to the circuit court within one (1) year of the date of the order denying or modifying the award. The circuit court may either affirm the order or reverse it and confirm the award. Finally, if either party to the award fails to satisfy it, the other party may move to enforce the award in the circuit court without having to confirm it. This motion must be made within three (3) years of the date the award is due to be paid. In all cases, the court has the discretion to extend the time periods for filing motions or for appeal if it considers the interests of justice require it.
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