(1) When a person is approached in connection with a possible appointment as an arbitrator, said person must disclose any circumstance likely to give rise to justifiable doubts as to his/her impartiality or independence. An arbitrator, from the time of appointment and throughout the arbitral proceedings, shall disclose any such circumstances to the parties without delay, unless they have already been informed of them by him or her.(2) An arbitrator may be challenged only if circumstances exist that give rise to justifiable doubts as to the arbitrator's impartiality or independence, or if the arbitrator does not possess qualifications agreed to by the parties. A party may challenge an arbitrator appointed by it, or in whose appointment the party participated, only for reasons of which the party becomes aware after the appointment has been made. History —Jan. 5, 2012, No. 10, § 3.03.