Common use of Suspension and Termination of Proceedings Clause in Contracts

Suspension and Termination of Proceedings. 1. Where the parties to the dispute agree, the arbitral tribunal may suspend its work at any time for a period not exceeding 12 months from the date of such agreement. Upon the request of any party to a dispute, the arbitral proceeding shall be resumed after such suspension. If the work of the arbitral tribunal has been suspended for more than 12 months, the authority for establishment of the arbitral tribunal shall lapse unless the parties concerned agree otherwise. 2. The parties to a dispute may agree to terminate the proceedings of an arbitral tribunal established under this Agreement before the release of the final report to them, in the event that a mutually satisfactory solution to the dispute has been found. 3. Before the arbitral tribunal makes its decision, it may at any stage of the proceedings propose to the parties to the dispute that the dispute be settled amicably.

Suspension and Termination of Proceedings. 1. Where the parties to the dispute agree, the arbitral tribunal may suspend its work at any time for a period not exceeding 12 months from the date of such agreement. Upon the request of any party to a dispute, the arbitral proceeding shall be resumed after such suspension. If the work of the arbitral tribunal has been suspended for more than 12 months, the authority for establishment of the arbitral tribunal shall lapse unless the parties concerned agree otherwise. 2. The parties to a dispute may agree to terminate the proceedings of an arbitral tribunal established under this Agreement before the release of the final report to them, in the event that a mutually satisfactory solution to the dispute has been found. 3. Before the arbitral tribunal makes its decision, it may at any stage of the proceedings propose to the parties to the dispute that the dispute be settled amicably.