1. The Arbitral Tribunal shall render the final award ending the entire dispute within the period agreed upon by the parties. In case of failure to agree on such period or the method to determine it, the award shall be issued within six (6) months from the date of the first session of arbitration. The Arbitral Tribunal may decide to extend the period of the proceedings for a further period not to exceed additional six (6) months, unless the parties agree upon a longer period. 2. The Arbitral Tribunal or one of the parties may, in case of rendering the arbitral award after the expiry of the period referred to in Clause (1) of this Article, request the court to pass a judgment prescribing an additional period for rendering the arbitral award or terminate the proceedings, if necessary. It may also extend such period in accordance with the conditions it deems appropriate. The judgment in this regard shall be deemed final, unless the parties agree otherwise. 3. If the court renders a judgment terminating the arbitral proceedings, any of the parties may file its claims before the initially competent court.
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