Is it possible to settle a securities arbitration claim before a hearing is held?
Yes, it is possible to settle a securities arbitration claim before a hearing is held in Oregon. This is called an "out of court" settlement and is when both parties to the case agree to resolve their dispute without the need for a hearing. By doing this, the parties can avoid the expense and the time it would take to go through a hearing. The Oregon Bureau of Labor and Industries (BOLI) is responsible for administering the Securities Arbitration law in the state, and its website provides helpful information about the process of out of court resolutions. To settle a claim without a hearing, the parties must submit a written settlement agreement. This document should outline the conclusion of the dispute and specify the obligations or remedies that each party must provide. It can also include outlining the costs of the process, such as attorney fees or other expenses related to the arbitration process. The important thing to remember when engaging in out of court settlements for securities arbitration is that it must be agreed to by both parties involved. Either party can choose to reject the offered resolution, so it is important to ensure that any agreement reached is beneficial for both sides. If an agreement cannot be reached, then the matter may need to be brought before an arbitrator for a hearing.
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