(1) If the parties notify the Tribunal that they have agreed to discontinue the proceeding, the Tribunal shall issue an order taking note of the discontinuance.
(2) If the parties agree on a settlement of the dispute before the Award is rendered, the Tribunal:
a)
shall issue an order taking note of the discontinuance of the proceeding, if the parties so request; or
b)
may record the settlement in the form of an Award, if the parties file the complete and signed text of their settlement and request that the Tribunal embody such settlement in an Award.
does not need to include the reasons on which it is based.
(4) The Secretary-General shall issue the order referred to in paragraphs (1) and (2)(a) if the Tribunal has not yet been constituted or if there is a vacancy on the Tribunal.