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Supreme Court of India
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Arbitration Law
Bare Acts
The Arbitration and Conciliation Act, 1996
Section 1-50
Section 1
Section 2
Section 3
Section 4
Section 5
Section 6
Section 7
Section 8
Section 9
Section 10
Section 11
Section 12
Section 13
Section 14
Section 15
Section 16
Section 17
Section 18
Section 19
Section 20
Section 21
Section 22
Section 23
Section 24
Section 25
Section 26
Section 27
Section 28
Section 29
Section 30
Section 31
Section 32
Section 33
Section 34
Section 35
Section 36
Section 37
Section 38
Section 39
Section 40
Section 41
Section 42
Section 43
Section 44
Section 45
Section 46
Section 47
Section 48
Section 49
Section 50
Section 30- Settlement

t 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.
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 the settlement in the form of an arbitral award on agreed terms.
An arbitral award on agreed terms shall be made in accordance with section 31 and shall state that it is an arbitral award.
An arbitral award on agreed terms shall have the same status and effect as any other arbitral award on the substance of the dispute.
     
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