This book constitutes a comprehensive analysis of the performance standards of arbitrators and arbitral institutions. Through the prism of the nature of an arbitration clause, as well as the place of arbitration in the legal system, it considers what the rights and obligations of the arbitrators and arbitral institution are, what kind of breaches of the relevant standards, and under what circumstances, could result in the imposition of personal liability on them, and where could any resulting claims be pursued. With numerous references to the up-to-date case law from various jurisdictions, the work presents collected standards that make up the institution of personal liability in international commercial arbitration.