The termination of arbitral proceedings is an issue of immense significance for the parties because from that moment onwards the tribunal’s mandate is deemed to have expired and it is only under very exceptional circumstances that it may be re-constituted. Article 32 sets out the two obvious procedural mechanisms through which the tribunal may terminate proceedings: a final award; or a termination order. It is important to note that whether through an award or order, termination takes place only where either of the two is not amenable to further recourse to the courts under the laws of the seat, as spelt out in paragraph 3 of article 32. Furthermore, the article touches upon the notion of functus officio.