Drafting Of Compromise Agreement In Conciliation
Date Posted: April 9, 2021 by admin
I intend to reach an agreement with two parties on a road accident. I will pay a certain amount, while another party will pay the balance. What I wanted to know was that successful mediations can be long things that often extend into the evening or night. Until the parties agree, clients and lawyers are tired and ready to go home. But the next step — the memory of the agreement — may be the most important part of the day. An appropriate recall is particularly important if the parties wish to sign a binding agenda during mediation and conclude a longer transaction agreement in the future. As several recent cases show, these terminology sheets need to be carefully developed, or the parties may be bound by an incomplete agreement or cancel the transaction altogether. A conciliation agreement is an agreement drawn up by a conciliator when he sees that there is a possibility of amicable compromise between the parties. A conciliator helps the parties settle disputes between them amicably.
He adds: “It is well established that a legal fiction cannot be extended beyond the purpose for which it is created. Section 74 of the Act creates a legal fiction to impose the status and effect of a Section 73 transaction agreement for attribution. The objective is clearly to allow the application of such agreements as an arbitral award without further adjudication procedure. Legal fiction cannot be extended to other statutes. “It is clear from the legal provisions above that a conciliator is a person intended to assist the parties in resolving their disputes.” To this end, the conciliator, with broad powers, has the power to rule on the procedure he must follow and which is not disturbed by procedural law such as the Code of Civil Procedure or the Indian Evidence Act of 1872. If the parties are able to resolve the dispute between them by mutual agreement and it appears that there is an acceptable transaction element for the parties, it will act in accordance with the Section 73 procedure, formulate the terms of a transaction and submit the parties for comment; and the final step for a conciliator is to reach a settlement based on the parties` comments on the conditions it formulates.