Part VI The Award, Ch.23 Settlement and Other Grounds for Termination

In some cases, the parties may resolve their dispute during the course of the arbitration through a negotiated settlement. In other cases, the arbitration may become unnecessary or impossible to continue, for reasons such as the claimant's failure to pursue its claim, the resolution of the arbitral dispute in another forum, or the parties’ failure to fund the arbitral tribunal through required deposits of money. In these circumstances, and possibly others, the arbitration will end not with an award that reflects a fully adjudicated decision, but rather with an award on agreed terms or a termination order. This Chapter addresses Article 34, which guides the conduct of the arbitral tribunal in these circumstances.