"On the advice of the players' lawyer that his clients wished to withdraw from the process I have advised all parties that the Tribunal has been dissolved," former South Africa and Zimbabwe spinner Traicos said in a statement issued by the International Cricket Council.
The three-man tribunal was set up in July with the agreement of Zimbabwe Cricket (then the Zimbabwe Cricket Union) and several players to deal with the fall-out caused by former captain Heath Streak's allegation of racial bias in selection.
But when a separate ICC inquiry conducted by India's solicitor-general Goolam Vahanvati and South African judge Justice Steven Majiedt found in October no evidence of racism in Zimbabwe cricket, the tribunal's future always looked precarious.
Zimbabwe were suspended from Test cricket following two heavy defeats against Sri Lanka in May but were allowed to continue playing one-day internationals where a weakened side suffered a string of heavy defeats.
However, Zimbabwe are due to resume their involvement in five-day cricket away to fellow minnows Bangladesh in January under the captaincy of 21-year-old wicket-keeper Tatenda Taibu.
England, who prior to the dispute between the players and the ZCU had come under political pressure to boycott their tour of Zimbabwe in protest at the policies of President Robert Mugabe, are due to play the first of five one-day internationals against Taibu's men on November 26 in Harare.