Mediator Fees and Expenses

The parties are responsible for the mediator's fees and expenses, including the mediator's travel. Parties share these charges equally unless they agree otherwise.

• Mediator Fees
  When the parties select their mediator, the parties and the mediator agree upon an hourly rate for the mediator's services. The parties pay the mediator this hourly rate for time spent conducting the mediation session, either by phone or in person. Mediators may also charge for preparation and travel time.
• Mediator Fees for Small Claims
  Many mediators on FINRA Dispute Resolution's roster have agreed to reduce their hourly rates for cases with an amount in controversy of $25,000 or less. FINRA Dispute Resolution staff can assist parties in selecting a neutral who charges reduced rates in small claims.
• Expenses
  Expenses incurred by the mediator in connection with the case are also the responsibility of the parties. These expenses might include travel, parking, telephone, and postage. The parties also pay for meeting room rental fees at non-FINRA facilities. Expenses are shared equally by the parties unless they agree otherwise.

FINRA Dispute Resolution requires mediating parties to submit a Mediation Session Deposit, covering the anticipated fees for the mediator's time and expenses. FINRA Dispute Resolution staff estimates the deposit based on the size and complexity of the case, the number of parties involved, and the mediator's rate. Each party must submit its share of the deposit when the Mediation Submission Agreement is signed and before mediation begins.

 

If the parties need more of the mediator's time than is covered by the Mediation Deposit, additional time is billed at the rate agreed to by the mediator and the parties.