Federal Alternative Procedure for Dispute Resolution Act of 1986

Federal Alternative Procedure for Dispute Resolution Act of 1986 - Allows contracting parties to agree to settle controversies by means of an alternative dispute resolution procedure. Sets forth the procedures to be followed under such circumstances.

States that a proceeding shall be conducted by a single umpire (unless otherwise provided). Grants the umpire immunity, with certain exceptions, from any claim for damages arising out of such proceeding.

Permits a district court to consolidate an alternative resolution proceeding and a related court proceeding to advance expeditious use of court time.

Sets forth the authority of the umpire.

Lists the circumstances under which an order or ruling of an umpire may be appealed to a district court. Sets forth certain procedural rules regarding: (1) discovery; (2) multiple umpires; (3) subpoenas; and (4) evidence.

Allows any party to commence a summary proceeding in a district court to vacate, modify, or correct an award. Sets forth the grounds for vacating or modifying such an award. Allows the district court to order a rehearing upon vacating an award.

Declares that alternative resolution proceedings may be barred by an applicable statute of limitations.

States that certain expenses and attorney fees shall be paid as provided in the award.

Provides that upon the granting of an order confirming, modifying, or correcting an award, a judgment shall be entered by the court. States that there shall be no further appeal or review of that judgment.