Question

Settlement agreement is covered under which section of the Arbitration and Conciliation Act, 1996?

Q: Answer-Settlement agreement is covered under which section of the Arbitration and Conciliation Act, 1996?

S. 73. Settlement agreement .1 When it appears to the conciliator that there exist elements of a settlement which may be acceptable to the parties, he shall formulate the terms of a possible settlement and submit them to the parties for their observations. After receiving the observations of the parties, the conciliator may reformulate the terms of a possible settlement in the light of such observations.