Section 18 Arbitration 1. ARCOM shall foster voluntary arbitration for the resolution of disputes of a commercial or contractual nature between concessionaires and entities licensed for the production, transmission or distribution and between the latter and users. 2. For the purposes of applying the provision of subsection 18.1 above, ARCOM may cooperate in setting up institutionalised arbitration centres and enter into agreements with already existing institutionalised arbitration centres. CHAPTER III ARCOM organisational structure Section 19 Organs ARCOM is comprised of the following organs: (a) Board of Directors; (b) President of the Board of Directors; (c) Monitoring Committee. PART I Board of Directors Section 20 Functions The Board of Directors is the collegial organ responsible for defining and implementing ARCOM’s regulatory activity, as well as for managing its respective services. Section 21 Composition and appointment 1. ARCOM Boards of Directors is composed of a President and two voting members, appointed by instruction of the Prime Minister, on the basis of a proposal from the Minister of Transport, Communications and Public Works; 2. Board of Directors members are appointed from among people with recognised reputation, independence, and technical and professional competence.