FAI Arb FAI Arbitration Rules 2024
FAI Arb
FAI Arbitration Rules 2024
46.1 The arbitral tribunal shall issue an order for the termination of the proceedings if:
(a) the claimant withdraws its claim, unless the respondent objects to the termination of the proceedings and the arbitral tribunal determines that the respondent has a legitimate interest in obtaining a final settlement of the dispute;
(b) the parties agree on the termination of the proceedings; or
(c) the continuation of the proceedings becomes unnecessary or impossible for any other reason.
46.2 If the parties reach a settlement before the final award is made, the arbitral tribunal may record the settlement in the form of a consent award if so requested by all parties. The provisions of Articles 42 to 44 shall apply to any consent award.
46.3 The arbitral tribunal shall communicate an original copy of the order for the termination of the proceedings, or of the consent award, to each of the parties and the Institute without delay.
Quelle: FAI
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