Cap. 387 Art. 46Settlement or other grounds for termination.

(1) If before the award is made, the parties agree on a settlement of the dispute, the arbitral tribunal shall either issue an order for the termination of the arbitral proceedings or, if requested by both parties and accepted by the arbitral tribunal, record the settlement in the form of an arbitral award on agreed terms. The arbitral tribunal is not obliged to give reasons for such an award. proceedings. The arbitral tribunal shall have the power to issue such an order unless a party raises justifiable grounds for objection.

(3) Copies of the order for termination of the arbitral proceedings or of the award on agreed terms, signed by the arbitrators, shall be communicated by the arbitral tribunal to the parties and to the registrar. Where an arbitral award on agreed terms is made, the provisions of article 44(2) and (4) to (8) shall apply.

(4) The provisions of this article shall also apply in case the parties resolve a dispute which may have arisen between them by mediation, conciliation or any other means. In such a case the person assisting in the resolution of the dispute may, with the consent of both parties, act as the arbitrator for the purpose of registering the agreement reached between them in terms of this Act and, when registered, such agreement shall be treated for all intents and purposes as a registered award.

(5) Where the parties resolve a dispute as is mentioned in subarticle (4) and the person whose services may have been used in resolving the dispute is unable or unwilling to act in terms of this article, the Centre may on the joint application of the parties to the agreement appoint an arbitrator for such purpose: Provided that, with the consent of the parties, the Registrar may provide support to the parties in such cases by carrying out the registration functions of an arbitrator in accordance with rules which may be made by the Centre from time to time.