Quick Summary
Conciliation is a confidential, voluntary process where a neutral third party (conciliator) assists disputing parties to reach an amicable settlement by identifying issues, developing options, and helping them reach agreement.
Conciliation is a confidential, voluntary process where a neutral third party (conciliator) assists disputing parties to reach an amicable settlement by identifying issues, developing options, and helping them reach agreement.
Key Characteristics
- Non-binding dispute resolution process
- Conciliator facilitates settlement discussions
- Parties control the outcome
Legal Framework
Settlement agreement has status of arbitral award
Key Points
- Non-binding dispute resolution process
- Conciliator facilitates settlement discussions
- Parties control the outcome
- Confidential and without prejudice
- Governed by Arbitration and Conciliation Act, 1996
- Settlement agreement has status of arbitral award