Summary
Pursuant to article 1698, 3° (Old) B.J.C.), the jurisdiction and power of the arbitrators terminate if and when the award is not rendered within the imposed time limit, unless this limit is extended by mutual agreement of the parties.
This rule applies both to an interim award and to a final award.
It implies that, if the time limit has elapsed, the powers of the arbitrators are terminated, and they have no longer jurisdiction.
b-Arbitra | Belgian Review of Arbitration