(b) The panel of arbitrators shall be empowered to award costs and reasonable attorney's fees to a successful party in an arbitration, if the panel finds that the action, claim, counterclaim, defense or cross claim of an unsuccessful party is frivolous, in accordance with the provisions and subject to the limitations of section eight thousand three hundred three-a of this chapter. The arbitration fee paid by the claimant shall be recoverable by the claimant in the event an award is made to the claimant.
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