Do SMA arbitrators award attorneys fees?
Under United States law and practice, it is not clear whether arbitrators are empowered to award attorneys fees when there is no specific reference to them in the arbitration clause. If both parties to a proceeding demand or request an award of attorneys fees, the Panel may do so. However, under SMA Rules (that is a unique feature of SMA Rules), arbitrators have the power to award a reasonable allowance toward attorneys fees and are encouraged to do so. In many awards, SMA arbitrators now award all or a portion of legal expenses incurred by the prevailing party, as well as the cost of conducting the arbitration proceeding against the losing party.
