538. Immunity of arbitral institutions.

An arbitral or other institution or person designated or requested by the parties1 to appoint or nominate an arbitrator2 is not liable for anything done or omitted in the discharge or purported discharge of that function unless the act or omission is shown to have been in bad faith3. An arbitral or other institution or person by whom an arbitrator is appointed or nominated is not liable, by reason of having appointed or nominated him, for anything done or omitted by the arbitrator, or his employees or agents, in the discharge or purported discharge of his functions as arbitrator

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