71-3-564. Arbitration of lien disputes. (1) The parties to a construction lien created under this part may agree prior to the creation of the construction lien or at any time after the construction lien is created to enter into arbitration if a dispute arises between the parties with respect to the construction lien. Arbitration entered into pursuant to this section is subject to the Uniform Arbitration Act, Title 27, chapter 5.

(2) The provisions of subsection (1) do not prohibit a party from substituting a bond for the construction lien as provided in 71-3-551. Upon the filing of the bond, the construction lien is discharged as provided in 71-3-552. The parties may continue with arbitration if they agree to do so.