Fees and Refunds
FINRA will send parties an invoice when fees are due. Once parties agree to mediate FINRA will assess Mediation Filing Fees.
After parties select a mediator and agree to a mediation date, FINRA will request a deposit to cover the mediator's anticipated time mediating the case. If the mediator anticipates travel costs or other expenses (including room rental charges), the deposit will include those anticipated fees, as well.
At the conclusion of the mediation, the mediator will present a payment form to FINRA with the exact amount of time and expenses incurred. Parties may receive a refund or additional assessment, if there is a difference between the deposit and the mediator's actual time and expenses.
The Mediation Filing Fee is an administrative fee assessed by FINRA and is non-refundable.
The Mediator Session Deposit will be applied to fees assessed by the mediator. If any party has unused funds on deposit, those funds will be applied to other outstanding case fees. FINRA will refund the remaining balance.