The arbitral tribunal shall issue an order for the termination of the arbitral proceedings where any of the following occurs:

1. (a) The claimant withdraws his or her claim, unless the respondent objects to the order and the arbitral tribunal recognizes a legitimate interest on the respondent’s part in obtaining a final settlement of the dispute.
2. (b) The parties agree on the termination of the proceedings.
3. (c) The arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible.