Settlement or other grounds for termination of arbitration | Q&A Arbitration guide by Hesham Elrafei
Settlement or other grounds for termination of arbitration
What if the parties settle their dispute during the arbitration?
If the parties agree to settle the dispute before the award is made, the tribunal shall either:
Terminatate the arbitration.
Issue an unreasoned arbitral award on agreed terms where the settlement is recorded, if requested by the parties and accepted by the tribunal,
If the parties agree to settle the dispute on agreed terms, does the tribunal need to reason its award?
The arbitral tribunal is not obliged to give reasons for the award on agreed terms.
Where an award on agreed terms is made, what shall be included in that award?
An award on agreed terms must be:
In writing
final
binding on the parties.
Be signed by the arbitrators and the reason for an arbitrator's failure to sign if any.
Be dated
Place of arbitration “seat of arbitration”
No Reasons required.
When can the tribunal terminate the arbitration without deciding the dispute? What are the grounds for early termination of the arbitration?
unless other matters in the dispute are still undecided, the tribunal has the power to order the termination of the arbitration after informing the parties of its intention, If the continuation of the proceedings becomes either:
Unnecessary ( apart from settlement )
Impossible
What should the tribunal do after it ordered the termination of the proceedings?
Once the arbitration is terminated, the tribunal shall provide the parties with a copy of the termination order or of the arbitral award on agreed terms, signed by the arbitrators,
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