Common use of Arbitrators; Selection of Neutral Arbitrator Clause in Contracts

Arbitrators; Selection of Neutral Arbitrator. Any party who fails to designate timely its party arbitrator shall forfeit its right to designate an arbitrator. If only one arbitrator is timely designated, that single arbitrator shall hear the dispute. If two arbitrators are timely designated, those arbitrators shall, within thirty days, either agree on the appointment of a third, disinterested arbitrator knowledgeable as to the subject matter involved in the arbitration or petition the Chief Judge of the United States District Court for the District of New Mexico for the appointment of a third arbitrator. The parties shall be equally liable for the reasonable fees and expenses of the neutral arbitrator hearing the dispute. The parties shall be responsible for the fees and expenses of their respective party-appointed arbitrator.

Arbitrators; Selection of Neutral Arbitrator. Any party Party who fails to designate timely its party Party arbitrator shall forfeit its right to designate an arbitrator. If only one arbitrator is timely designated, that single arbitrator shall hear the dispute. If two arbitrators are timely designated, those arbitrators shall, within thirty (30) days, either agree on the appointment of a third, disinterested arbitrator knowledgeable as to the subject matter involved in the arbitration or petition the Chief Judge of the United States District Court for the District of New Mexico for the appointment of a third arbitrator. The parties Parties shall be equally liable for the reasonable fees and expenses of the neutral arbitrator hearing the dispute. The parties Parties shall be responsible for the fees and expenses of their respective partyParty-appointed arbitrator.