(1) The parties are free to agree on a procedure for appointing the arbitrator or arbitrators.
(2) Unless otherwise agreed by the parties, a party is bound by the appointment of an arbitrator made as soon as the other party has received notice of the appointment.
(3) Absent an agreement made by the parties regarding the appointment of arbitrators, the court will appoint a sole arbitrator upon request by one party if the parties are unable to come to an arrangement regarding the appointment of the arbitrator. In arbitral proceedings with three arbitrators, each party appoints one arbitrator; the two arbitrators thus appointed will appoint the third arbitrator, who will act as presiding arbitrator. If a party has not appointed the arbitrator within one month of having received a request to do so from the other party, or if the two arbitrators are unable to agree upon the third arbitrator within one month of their appointment, then the court is to appoint the third arbitrator upon request of a party.
(4) Where the parties have agreed on an appointment procedure, and one party fails to act as required under such procedure, or where the parties or the two arbitrators are unable to reach an agreement in keeping with such procedure, or where a third party fails to perform any function conferred upon it under such procedure, each party may request that the court order the necessary measures, unless the agreed appointment procedure provides other means of securing the appointment.
(5) In appointing an arbitrator, the court is to have due regard to all prerequisites stipulated with regard to the arbitrator by the agreement of the parties and is to take account of all factors ensuring the appointment of an independent and impartial arbitrator. In appointing a sole arbitrator or a third arbitrator, the court also is to consider whether the appointment of an arbitrator of a nationality other than those of the parties may serve the intended purpose.