Are there any time limits on filing a motion to vacate a securities arbitration award?

Yes, there are time limits to filing a motion to vacate a securities arbitration award in Washington. A person must file a motion to vacate a securities arbitration award within 90 days of receiving the award. This deadline is set by the Washington Arbitration Rules. The motion must be in writing and sent by certified mail. This time limit is strictly enforced and no extensions are allowed. The motion to vacate must include the reasons why the award should be vacated. Generally, arbitrators can grant only very limited reasons for vacating an award. These reasons may include fraud, misconduct, or a clear mistake of law. A motion to vacate must include evidence to support the reasons and facts stated in the motion. If a motion to vacate is successful, the award is thrown out and the arbitration process begins again. However, in many cases, the motion to vacate will be denied. If this happens, the decision can be appealed within 30 days of the order denying the motion. If a person fails to file a motion to vacate within the allotted time period, they may not be able to challenge the award in court. The court may refuse to hear the case and the award may become final. It is important to note that the time limits for filing a motion to vacate a securities arbitration award may differ in other states.

Related FAQs

Are there any time limits on filing a motion to vacate a securities arbitration award?

Related FAQs

Related Blog Posts