The following describes the payment of arbitration award; interest in the state of Florida:
(1) In pursuant to s.766.207, the defendant shall perform the following within 20 days after the arbitration panel has made a determination of the damages:
(a) Payment of the arbitration amount and the interest at a legal rate, to the plaintiff; or
(b) Pursuant to s.766.208, the submission of multiple defendant’s disputes to arbitrate.
(2) The award rendered in arbitration will begin to accumulate interest at the rate of 18% per year, 90 days after the awarded has been rendered pursuant to s.766.207