Originally from: Soft Law in International Arbitration

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Introductory Note

International arbitrators should be impartial, independent,
competent, diligent and discreet. These rules seek to establish the manner
in which these abstract qualities may be assessed in practice. Rather than
rigid rules, they reflect internationally acceptable guidelines developed
by practising lawyers from all continents. They will attain their
objectives only if they are applied in good faith.

The rules cannot be directly binding either on arbitrators, or on the
parties themselves, unless they are adopted by agreement. Whilst the
International Bar Association hopes that they will be taken into account
in the context of challenges to arbitrators, it is emphasised that these
guidelines are not intended to create grounds for the setting aside of
awards by national courts.

If parties wish to adopt the rules they may add the following to their
arbitration clause or arbitration agreement:

‘The parties agree that the Rules of Ethics for International
Arbitrators established by the International Bar Association, in
force at the date of the commencement of any arbitration under
this clause, shall be applicable to the arbitrators appointed in
respect of such arbitration.’

The International Bar Association takes the position that (whatever
may be the case in domestic arbitration) international arbitrators should
in principle be granted immunity from suit under national laws, except in
extreme cases of wilful or reckless disregard of their legal obligations.
Accordingly, the International Bar Association wishes to make it clear