The Arbitrator must set the arbitration hearing no fewer than 60 and no more than 120 days after the Notice of Appointment of Arbitrator. Parties and counsel have five days after receipt to file objections.Five Years – Renewal of judgment; failure to make return on execution. Six Years – Written contract for debt. Multiple courts have held that statutes of limitations simply do not apply in an arbitration proceeding without some contractual provision. The list of eligible arbitrators includes all county residents who have been active members of the State Bar of Arizona for at least 4 years.