Under Section 62 of the Act, the conciliation procedure is initiated at the choice of a party if the letter of invitation containing the first party`s letter of intent for the opening of the conciliation procedure and a brief description of the purpose of the conciliation procedure are accepted by the other party in writing. However, the margin of appreciation rests with the other party to accept/reject such a letter of invitation and, if no response is received by the inviting party within a specified period of thirty days or the number of days indicated in the invitation, the invitee may consider his invitation as rejected by the invited party and he/she will inform the other party. A conciliation procedure as an alternative dispute resolution mechanism is a formal way to resolve a dispute outside the court with the help of a neural adjur and with the agreement of the parties. The form of procedure for implementing the conciliation procedure with the laws of the 1996 Arbitration and Conciliation Act has been discussed as follows: communication between the conciliator and the parties must be put in place to facilitate the conciliation procedure, and Section 69 of the Act provides for this. The location of these coomunications is determined by the conciliator with the recommendations of the parties. The notification can be made either orally or in writing, and can be made individually or in groups. The transaction contract is established in accordance with section 73 of the Act. If the conciliator is satisfied that there are reasonable and acceptable elements of comparison for the parties, he can formulate the terms of such a settlement and include that additional information in the agreement after the parties have made their submissions on that date. The conciliator may provide the parties with such assistance as they require in the development of the final settlement. The final settlement, which has the same status as an arbitral award under section 30 of the Act, binds the parties and their subordinates or anyone connected to the dispute. A final copy of the transaction agreement is made available to each of the parties: finally, the conciliation procedure can be concluded by: any relevant document concerning the dispute, or any information under-placed, is transmitted to the conciliator either by the parties of his own volition or at the request of the conciliator. In accordance with Section 65 of the Act, the conciliator is subject by the parties to a written statement containing:
Conciliation Settlement Agreement Format
