Law of Arbitration

1. The arbitration proceedings shall terminate by the issuance of the award ending the dispute or by the issuance of a decision by the arbitration tribunal to end the proceedings in the following cases: a) If both parties agree to terminate the arbitration proceedings. b) If the plaintiff abandons the arbitration case, unless the arbitration tribunal decides, upon the defendant ’s request, that the latter has a genuine interest in the continuation of the arbitration proceedings until the dispute is decided. c) If the arbitration tribunal deems, for any other reason, the continuation of the arbitration proceedings pointless or impossible. d) If an order ending the arbitration proceedings is issued pursuant to Article 34(1) of this Law. 2. The arbitration proceedings shall not terminate upon the death of either arbitration party or loss of his legal capacity, unless a person with capacity in the dispute agrees with the other party to terminate the arbitration. In such case, the deadline for the arbitration shall be extended for 30 days, unless the arbitration tribunal decides to extend it for a similar period or the parties to arbitration agree otherwise. 3. Subject to the provisions of Articles 49, 50, and 51 of this Law, the mandate of the arbitration tribunal shall end upon completion of the arbitration proceedings.