Subject of this paper are arbitrators and their exemption. Arbitration represents alternative way of dispute resolution which is conducted by arbitrators, persons appointed to resolve and bring a rulling in the given dispute. Such an appointment can be both indirect ( in which case appointments are made by arbitration institutions or bodies authorized to nominate – most likely that will be national courts ) and direct ( in which case appoinments are made by parties in dispute ). To be nominated for an arbitrator, in general, a person does not need to be a to be a citizen of a special state nor a professionalist in the given area ( unless if the case is brought in front of special arbitration, when arbitrators must posses a certain knowledge ) although that is desirable for achieving the goal of the arbitration procedure, which is a fast, fair and professional resolution of the given dispute. On the other hand arbitrators must posses a full bussines capability, and in case of the international arbitration they need to know the language in which the procedure will be conducted aswell. Fundamentals of the arbitrator's character are both independence and impartiality, and they must remain as such all the way during the end of procedure. Once appointed arbitrators gain certain rights and obligations, some of which are effective conduct of the procedure, obligation to inform parties or bodies about circumstances that can bring their independence and impartiality to a reasonable doubt and finally a right of an arbitrator to a fee and cost reimbursement . If arbitrators do not execute their duties properly they can be revoked and if certain circumstances, which can bring their independence and impartiality in reasonable doubt, emerge they can even be exempt and replaced with another arbitrator. Conclusion can be made that a person must posses certain qualities in order to be appointed as arbitrator and once appointed arbitrators need to execute their duties in the procedure properly. In the contrary they can be revoked or exempt and replaced with another arbitrator.