(a) The arbitral proceedings shall be terminated by the final arbitration award or
by an order of the arbitration tribunal in accordance with subsection (b) of this
(b) The arbitration tribunal shall issue an order for the termination of the arbitral
(1) The claimant withdraws his or her claim, unless the respondent objects thereto
and the arbitration tribunal recognizes a legitimate interest by the respondent in
obtaining a final settlement of the dispute;
(2) The parties agree on the termination of the proceedings; or
(3) The arbitration tribunal finds that the continuation of the proceedings has for
any other reason become unnecessary or impossible.
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