AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

Arbitration and Conciliation Act, 1996


30. Settlement.

1.     It is not incompatible with an arbitration agreement for an arbitral tribunal to encourage settlement of the dispute and, with the agreement of the parties, the arbitral tribunal may use mediation, conciliation or other procedures at any time during the arbitral proceedings to encourage settlement.

2.     If, during arbitral proceedings, the parties settle the dispute, the arbitral tribunal shall terminate the proceedings and, if requested by the parties and not objected to by the arbitral tribunal, record die settlement in the form of an arbitral award on agreed terms.

3.     Am arbitral award on agreed terms shall be made in accordance with section 31 and shall state that it is an arbitral award.

4.     An arbitral award on agreed terms shall have the same status and effect as any other arbitral award on the substance of the dispute.



Arbitration and Conciliation Act, 1996 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered by nubia  |  driven by neosys