(3) If the conciliation succeeds in settling the dispute, the conciliator shall be regarded as the arbitrator appointed under the agreement of the parties; and the result of the conciliation shall be treated in the same manner as such award as to be given and rendered upon settlement by compromise under the provision of Article 53, and shall have the same effect as an award
(4) When the conciliation fails to settle the dispute within 30 days after the appointment of conciliator(s), the conciliation procedure shall come to an end and the arbitration procedure under these Rules, inclusive of appointment of arbitrator(s), shall commence immediately. However, the parties may extend the above period by mutual agreement.
(5) The parties to the conciliation proceeding, in the absence of an agreement, shall each bear the conciliation costs.
(6) Provisions of Arbitration Costs provided in Chapter IX shall be applied mutatis mutandis to the case of conciliation and when arbitral proceeding is commenced pursuant to Paragraph (4) of this Article, the conciliation costs shall be deemed part of the arbitration costs.

CHAPTER IV

APPOINTMENT OF ARBITRATORS