PART V – ARBITRAL AWARD Rule 30: Form and Effect of the Award (1) The award shall be made in writing and shall be final and binding on the parties. The parties shall undertake to carry out the award without delay. (2) The Tribunal shall state the reasons upon which the award is based, unless the parties agree that no reasons are to be given, or the award is an award on the agreed terms under sub-rule (3) of Rule 29. (3) An award shall be signed by the arbitrator(s) and shall contain the date when and the place where the award was made or is deemed to have been made. Where there are three or more arbitrators and one or more of them fail (s) to sign, the award shall state the reasons for the absence of the signature(s). (4) The award may be made public, including through law reporting, only with the consent of all the parties. (5) Copies of the award signed by the arbitrators shall be communicated to the parties by the Tribunal. Rule 31: Termination of Arbitral Proceedings. (1) The Tribunal shall issue an order for the termination of the arbitral proceedings where:(a) the Tribunal decides that it has no jurisdiction; (b) the Claimant withdraws the claim, unless the Respondent objects to the withdrawal and the Tribunal recognizes a legitimate interest in obtaining a final determination of the dispute; (c) the parties agree on the termination of the arbitral proceedings; (d) the party defaults under Rule 6; or (e) the Tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible. 15