The Validity of Executed Terms of Settlement in Arbitration, Mediation, Conciliation and in Some Selected Rules of Court

Abstract

This piece attempt to discuss the term of settlement in arbitration, mediation, and conciliation; and to determine the validity of the terms of settlement in face the court or tribunal in relation to some of the major mediation and arbitration laws and rules. Inquiry revealed that the validity of terms of settlement rests on the Arbitral Tribunal in arbitration, and in mediation, its validity lies on when the Parties signs or where Mediator signs. Under Conciliation, the terms of settlement if agreed and signed by the parties, and endorsed by a Conciliator becomes valid and can be considered as Arbitral Award to be enforced by Courts. Discovery indicates that the Courts are always willing to enforce a term of settlement that stem from ADR Options in the form of Consent Judgement. The position of the parties, Rules of Court, and Arbitral Tribunal on the validity of executed terms of settlement under ADR will be highlighted.