Illinois Compiled Statutes 710 ILCS 30 International Commercial Arbitration Act. Section 25-25

    (710 ILCS 30/25-25)

    Sec. 25-25. Termination of proceedings.

    (a) The arbitral proceedings are terminated by the final award or by an order of the arbitral tribunal in accordance with subsection (b) of this Section.

    (b) The arbitral tribunal shall issue an order for the termination of the arbitral proceedings when any one of the following events occurs:

        (1) The claimant withdraws its claim, unless the

    respondent objects thereto and the arbitral tribunal recognizes a legitimate interest on his or her part in obtaining a final settlement of the dispute.

        (2) The parties agree on the termination of the

    proceedings.

        (3) The arbitral tribunal finds that the continuation

    of the proceedings has for any other reason become unnecessary or impossible.

    (c) Subject to Section 25-30 of this Act, the mandate of the arbitral tribunal terminates with the termination of the arbitral proceedings.

(Source: P.A. 90-631, eff. 7-24-98.)

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Last modified: February 18, 2015