New Zealand will not be forced to pay compensation to Pakistan for cancelling a cricket tour following the September 11 atrocities, and for aborting another series after a bomb blast.
New Zealand flew home after a bomb blast outside their hotel
The Black Caps were en route to Pakistan when the terrorist attacks on New York took place, and were ordered home.
They also flew home from their rescheduled tour in May 2002 after an explosion outside their hotel on the morning of the second Test, which left 14 people dead.
The International Cricket Council (ICC) disputes committee ruled it was not unreasonable for New Zealand Cricket (NZC) to cancel its original tour.
"The situation in the world generally, and particularly in the region which includes Pakistan, was highly volatile and unpredictable," the panel said in a statement on Thursday.
"Given the proximity of the Karachi bomb-blast and the deaths caused by it, we find that NZC's cancellation of the re-scheduled tour in May 2002 was also acceptable."
NZC chief executive Martin Snedden said he was pleased with the decision.
"I am now working with the Pakistan Cricket Board to reschedule the cricket that was not played because of the terrorist disruptions," Snedden said.
Pakistan say they have lost millions of dollars in revenue because of cancelled or relocated series since September 11.
Australia and West Indies have both opted to play Test series in neutral venues in the last year.
And India have been prevented by their government from going ahead with a Test tour in April.
But South Africa and Bangladesh have both agreed to series between September and November.
World Cup cash
In a separate statement, Snedden said it was not unreasonable for the ICC to withhold $2.5m (£1.59m) of NZC's World Cup payment until contract disputes are resolved.
New Zealand refused to play a match in Kenya because of security concerns.
"I am confident that our decision not to play in Nairobi was correct and that our position is sound," Snedden said.