Conciliation is a voluntary and non-adversarial process where a neutral third party, called the conciliator, assists the parties in reaching an amicable settlement. Unlike an arbitrator, a conciliator does not have the power to impose a decision; instead, they facilitate discussion and may suggest terms of a settlement.
This process is governed by Part III of the Arbitration and Conciliation Act, 1996. A key feature is that if the parties sign a settlement agreement, it has the same status and effect as an arbitral award under Section 74 of the Act, making it legally binding and enforceable.
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