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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.
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.
Article 35 reads as follows: General Rule In all matters not expressly provided for in these Rules, the Court and the Arbitral Tribunal shall act in the spirit of these Rules and shall make every effort to make sure that the Award is enforceable at law.
Under the arbitration rules, if each party agrees that the final arbitration award can be entered as a judgment in any federal or state court that has original jurisdiction, then that filed arbitration award will give that court the power to enforce the arbiter's decision.
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.
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.
"(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.