(a) The arbitral proceedings are terminated by the final award or by an order of the arbitral tribunal in accordance with paragraph (b) of this Principle.
(b) The arbitral tribunal shall issue an order for the termination of the arbitral proceedings when:
i)
the claimant withdraws its claim, unless the respondent objects thereto and the arbitral tribunal recognizes a legitimate interest on its part in obtaining a final settlement of the dispute;
ii)
the parties agree on the termination of the proceedings;
iii)
the arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible.
(c) The mandate of the arbitral tribunal terminates with the termination of the arbitral proceedings, subject to provisions of the applicable arbitration law relating to the correction and interpretation or the setting aside of the award or the rendering of additional awards.
(...) The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator's decision in any court having jurisdiction (...)
2011(...) Any award of the arbitrators shall be final and binding on both Parties
2002(...) the arbitral award is final and binding upon both parties
2009(...) In case of a dispute between the Principal and the Agent, a new Agency Contract may be granted to a new Agent within the Agency area for the same products or services only after the authority considering the dispute shall have made a final award or decision
1983Any award rendered in the arbitration shall be final, non-appealable, and binding on both parties, and judgement may be entered thereon in any court of competent jurisdiction. Any award rendered shall be limited to actual damages sustained by the party in whose favor judgement is rendered, and no consequential, punitive, exemplary, special or multipied damages, nor any award of attorney's fees or out of pocket legal expenses, shall be awarded (...). An arbitrator may not award relief in excess of or inconsistent with the provisions of this Agreement, order consolidation or arbitration on a classwide basis, or award punitive, incidental, or consequential damages
2003(...) The Guarantor unconditionally and irrevocably agrees to be joined in any action or proceeding between X and Y (and any successor thereto) initiated pursuant to the dispute resolution provisions of the Power Purchase Agreement and to be irrevocably bound by any interim order or final award
(...) disputes, controversies or differences (...) shall be finally settled (...) by arbitration in accordance with the rules of Conciliation and Arbitration of the International Chamber of Commerce, and award rendered by arbitrator(s) of which shall be final and binding upon the parties hereto
1997Except as provided by the Rules and this Agreement, arbitration shall be the sole, exclusive and final remedy for any dispute between Employee and the Company. Accordingly, except as provided for and by the Rules and this Agreement, neither Employee nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration. Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator shall not order or require the Company to adopt a policy not otherwise required by law which the Company has not adopted.
2003(...) The arbitrator shall issue a written opinion and award, which shall be signed and dated. The arbitrator shall be permitted to award those remedies that are available under applicable law. The arbitrator's decision regarding the claims shall be final and binding upon the parties. The arbitrator's award shall be enforceable in any court having jurisdiction thereof.
2004(â¦) The arbitral award shall be final and binding upon both parties.
2005
1 A typical scenario for a termination order arises if the parties have negotiated a settlement 'in the shadow of the arbitration', i.e. without the help of the arbitrators outside the arbitral proceedings. The tribunal should then issue an order for the termination of the arbitral proceedings pursuant to Subsection (b) ii). This standard practice is also reflected in Principle XIII.4.3 (a).
2 Usually, the arbitral tribunal will not issue such an order on its own motion but will wait for a request from both parties. If no such order is issued by the tribunal, the mere fact that the parties have reached a settlement on their substantive claims does not terminate the arbitral procedure. To avoid such a 'sleeping arbitration', experienced arbitrators will always ask parties who have reached a settlement and who have not requested an order for the termination of the proceedings to submit such a joint request to the tribunal. A unilateral request to terminate the proceedings by one party, without the other party having had an opportunity to comment, does not constitute a sufficient basis for the arbitral tribunal to terminate the proceedings.
3 Before issuing a termination order, the tribunal must be completely convinced that the parties have actually reached a settlement which definitely and finally resolves all outstanding issues between the parties. Such an order has no res judicata effect. If the settlement is void, a claimant may re-submit its claim to a newly appointed arbitral tribunal.
Please cite as: "Commentary to Trans-Lex Principle , https://www.trans-lex.org/970060"