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Under AAA rules, parties to AAA cases agree that the arbitration award can be entered as a judgment in any federal or state court with jurisdiction. This means that the court can enforce it like it was any other court judgment.
After a party to the arbitration proceeding receives notice of an award, the party may file a motion with the court for an order confirming the award, at which time the court shall issue such an order unless the award is modified or corrected pursuant to section 572B. Ch. 572B MN Statutes MN Revisor's Office (.gov) ? statutes ? cite ? full MN Revisor's Office (.gov) ? statutes ? cite ? full
Recognition or confirmation of an award is usually sought by filing a petition. The party seeking recognition and enforcement or confirmation of an award must submit to the court a copy of the award and the parties' arbitration agreement. Challenging and Enforcing Arbitration Awards: USA globalarbitrationreview.com ? know-how ? report globalarbitrationreview.com ? know-how ? report
"(1) The award shall be made within a period of twelve months from the date the arbitral tribunal enters upon the reference.
Arbitration claimants have access to the same collection tools as in a court judgment: if a respondent fails to pay an arbitration award, the claimant may take the award to court and have it converted to a judgment.
Many arbitration cases end with a settlement between parties, either through direct negotiation or through mediation. Others end with an award. If a claimant is awarded damages, the respondent must pay within thirty days of receiving the written award, unless the respondent files a motion to vacate.
07. Section 572B. 07 - MOTION TO COMPEL OR STAY ARBITRATION (a) On motion of a person showing an agreement to arbitrate and alleging another person's refusal to arbitrate pursuant to the agreement, the court shall order the parties to arbitrate if the refusing party does not appear or does not oppose the motion. MOTION TO COMPEL OR STAY ARBITRATION, Minn. Stat. § 572B.07 casetext.com ? chapter-572b-uniform-arbitration-act casetext.com ? chapter-572b-uniform-arbitration-act
Arbitration claimants have access to the same collection tools as in a court judgment: if a respondent fails to pay an arbitration award, the claimant may take the award to court and have it converted to a judgment. Statistics on Unpaid Customer Awards in FINRA Arbitration finra.org ? arbitration-mediation ? statistics-... finra.org ? arbitration-mediation ? statistics-...