NTIn ForceAct
Commercial Arbitration (National Uniform Legislation) Act 2011
30Settlement (Model Law Art 30)
Start here
Get a plain-English read of 30
Turn the raw legal text into a practical explanation grounded in Commercial Arbitration (National Uniform Legislation) Act 2011.
30 Settlement (Model Law Art 30)
(1) If, during arbitral proceedings, the parties settle the dispute, the
arbitral tribunal must 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.
(2) An award on agreed terms is to be made in accordance with
section 31 and must state that it is an award.
(3) Such an award has the same status and effect as any other award
on the merits of the case.