684.0043 Termination of proceedings.—
(1) Arbitral proceedings are terminated by the final award or by an order of the arbitral tribunal pursuant to subsection (2).
(2) The arbitral tribunal shall issue an order for the termination of the arbitral proceedings when:
(a) The claimant withdraws its claim, unless the respondent objects to the withdrawal of the claim and the arbitral tribunal recognizes that the respondent has a legitimate interest in obtaining a final settlement of the dispute;
(b) The parties agree on the termination of the proceedings; or
(c) The arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible.
(3) The mandate of the arbitral tribunal terminates with the termination of the arbitral proceedings, subject to ss. 684.0044 and 684.0046(4).
History.—s. 44, ch. 2010-60.
Section: Previous 684.0036 684.0037 684.0038 684.0039 684.004 684.0041 684.0042 684.0043 684.0044 684.0045 684.0046 684.0047 684.0048 684.0049 NextLast modified: September 23, 2016