Appropriateness of collaborative law process - informed consent

(1) Before a prospective party signs a collaborative law participation agreement, a prospective collaborative lawyer shall: (a) Assess with the prospective party factors the lawyer reasonably believes relate to whether a collaborative law process is appropriate for the prospective party's matter; (b) Provide the prospective party with information that the lawyer reasonably believes is sufficient for the party to make an informed decision about the material benefits and risks of a collaborative law process as compared to the material benefits and risks of other reasonably available alternatives for resolving the proposed collaborative matter, such as litigation, mediation, arbitration, or expert evaluation, and other alternative dispute resolution options; and (c) Advise the prospective party in writing: (I) That after signing an agreement if a party initiates a proceeding or seeks tribunal intervention in a pending proceeding related to the collaborative matter, the collaborative law process terminates; (II) That participation in a collaborative law process is voluntary and any party has the right to terminate unilaterally a collaborative law process with or without cause; (III) That the collaborative lawyer and any lawyer in a law firm with which the collaborative lawyer is associated may not appear before a tribunal to represent a party in a proceeding related to the collaborative matter, except as authorized by section 13-24-109; and (IV) Of the privileged nature of collaborative communications as reflected in this article 24.