Settlement of disputes through arbitration is strongly favored by Colorado courts. See, e.g., Red Carpet Armory Realty Company v. Golden West Realty, 644 P.2d 93, 94 (Colo.App. 1982). Section 13-22-203, Colo.Rev.Stat., provides, in relevant part:
Pursuant to the express language of the UAA, the party seeking to set aside an arbitration award must assert one of the five enumerated grounds for relief or the award will be affirmed. Section 13-22-214, C.R.S. 1999; Red Carpet Armory Realty Co. v. Golden West Realty, 644 P.2d 93 (Colo.App. 1982). Because plaintiff has not asserted any of the statutory grounds for relief, we perceive no error in the trial court's decision affirming the arbitration award.
1981); Cohen v. Quiat, 749 P.2d 453 (Colo. 1987); Red Carpet Armory Realty v. Golden West Realty, Inc., 644 P.2d 93, 94 (Colo.App. 1982). See also Colo. Const. art. XVIII, § 3 ("It shall be the duty of the General Assembly to pass such laws as may be necessary and proper to decide differences by arbitrators. . .").
Colorado strongly favors settlement of disputes by arbitration. Red Carpet Armory Realty Co. v. Golden West Realty, 644 P.2d 93 (Colo.App. 1982). The public policy of Colorado with respect to arbitration is of constitutional dimension.
Generally, arbitrators are not bound by either substantive or procedural rules of law, except as required under the terms of the arbitration agreement. Textile Workers v. Lincoln Mills, 353 U.S. 448, 77 S.Ct. 912, 1 L.Ed.2d 972 (1957); Aimcee Wholesale Corp. v. Tomar Products, Inc., 21 N.Y.2d 621, 289 N.Y.S. 2d 968 (1968); Jacob v. Pacific Export Lumber Co., 135 Ore. 622, 297 P. 848 (1931); see also § 13-22-214(1)(b), C.R.S. 1973 (1981 Cum. Supp.). For example, we recently found that where a blanket agreement to submit to arbitration contained no restriction on the power of the arbitrator, and the parties agreed, as here, to be bound by the decision, the arbitration agreement was controlling and could not be superseded on appellate review Red Carpet Armory Realty Co. v. Golden West Realty Co., 644 P.2d 93 (Colo.App. 1982). Consequently, even if Alliance Casualty Co. v. Duerson, supra, is the most appropriate statement of Colorado law, the arbitrator's failure to apply it did not vitiate his award.