Answer – A respondent’s written reply to a claim.
Arbitration/Counsel or Arbitration Administrator – The person at the sponsoring organization who handles administrative matters in arbitration proceedings.
Arbitrator – A person chosen to decide disputes between parties.
Award – The written determination of the arbitrator(s).
Claim – A demand for money or other relief.
Claimant – A person making a claim.
Counsel – An attorney who advises and represents a party in an arbitration.
Counterclaim – A claim against the claimant.
Cross-Claim – A claim by a respondent against a co-respondent previously named by the claimant.
Filing – Delivery to the Director of Arbitration of the statement of claim or other pleadings, to be kept on file as a matter of record and reference.
Panel – The arbitrator(s) who decide(s) a dispute.
Party – A person or broker/dealer making or responding to a claim in an arbitration proceeding.
Pleadings – The claim, answer, counterclaim, and/or third-party claim and/or cross-claim filed in an arbitration.
Respondent – The person against whom a claim is made.
Service – Delivery of the statement of claim or other pleadings to those parties named in the arbitration.
Third-Party Claim – A claim by the respondent against a party not already named in the proceeding.
About This Information
This information has been prepared by the Securities Industry Conference on Arbitration (SICA), a group composed of representatives of various self-regulatory organizations, the Securities Industry Association, and public members. SICA established a uniform system for the resolution of disputes involving investors and broker/dealers, which has been adopted by each of the self-regulatory organizations.