One of the oft-heralded benefits of arbitration is its finality, suggesting that once the award is rendered any judicial review will be very limited.
Under the Federal Arbitration Act (FAA), as well as state arbitration acts, the grounds for review of arbitration awards are few and specifically delineated. The four grounds for vacating an award, well known to all who have even the slightest familiarly with arbitration, are: corruption or fraud; arbitrator partiality; arbitrator misconduct, such as refusal to postpone for good cause or refusal to hear pertinent and material evidence; exceeding powers or executing them imperfectly.
