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5 The Arbitral Tribunal: Selection and Replacement of Arbitrators

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Chapter Summary

The great majority of international investment arbitrations are decided by a three-member arbitral panel, where each party selects one arbitrator, and the presiding arbitrator is selected either by agreement of the parties, the party appointed arbitrators, or, more often, by a neutral appointing authority. The selection of arbitrators is made after serious and in-depth research by counsel, in consultation with the client. Arbitrators are the adjudicators of essentially all the disputes between the parties. During the course of the proceedings, they will have the power to decide both substantive and procedural issues relevant to parties' dispute. The quality of the arbitrators is essential for a successful arbitration and, more generally, for the reputation of the arbitration process itself. This chapter describes how, and assesses who, to select as arbitrators, it then reviews challenges procedures, and finally explains how arbitrators' vacancies are filled.

Keywords: arbitrator; neutral appointing authority; procedural issues; selection



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