What happens after the hearing or summary proceeding?
The arbitrators must make their decision (Award) within 30 days after the hearing or summary concludes. An Award does not contain reasons for the arbitrators’ decision. It simply states the issues presented to and decided by the arbitrators, which party won, and the amount, if any, the opposing party must pay. NFA arbitration decisions are final and binding, and court review is much more limited than in litigation.
- WHAT HAPPENS IF I MAKE A MOTION FOR SUMMARY JUDGMENT AND DECIDE BEFORE ITS HEARING DATE THAT I WANT TO ABANDON THE MOTION OR BEFORE ITS HEARING DATE THE PARTIES SETTLE THE CASE?
- How do I know if NFA will conduct a summary proceeding or oral hearing?
- What happens after the hearing or summary proceeding?