Settlement Agreement Linguee

the execution of the settlement agreement or an act giving force to the agreement of composition V. Settlement agreements in the arbitration rules of CICSID and UNCLOS Courts have the right, however, to refuse approval of a transaction in the form of an approval decision. In practice, this is rarely the case, unless the settlement agreement is a product of fraud or is contrary to existing law.8 Both the regulations of the CUDUD and UNCLOS Arbitral Tribunal provide that the parties must file a dispute before the adoption of the arbitral award. In such cases, the parties may request the Tribunal to close the proceedings and to retain the settlement in the form of an arbitral award.9 Irrespective of the settlement agreement itself, which contains a specific dispute settlement clause, the question arises whether, in accordance with the arbitration agreement, such disputes are settled or brought before the national courts in the original contract between the parties. One approach suggests that the arbitration clause in the original contract is likely to apply.10 Courts have also held that if all disputes between the parties are fully resolved, the arbitration agreement would not apply in the underlying contract.11 Settlement agreements are not specifically defined in international arbitration proceedings. However, they can be described as legally binding agreements between two or more parties aimed at settling disputes in a mutually acceptable manner. Comparative agreements can be negotiated by the parties themselves1 or facilitated by formal procedures such as mediation2 The use of settlement agreements in investment disputes has been criticised as detrimental to accountability and good governance12. 1995.C is of particular concern when calls for human rights are resolved. However, in such situations, courts have the power to refuse consent if they believe that the award would infringe the rights of third parties or the public interest who were not represented in the arbitration proceedings.13 The fact that transactions are often negotiated in camera, without public knowledge or participation, increases concerns about accountability. 14 and stresses the need for transparency in investment arbitration proceedings.

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