(1) If, during arbitral proceedings, the parties settle the dispute, the arbitral tribunal shall 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 shall be made pursuant to s. 684.0042 and shall state that it is an award. Such an award has the same status and effect as any other award on the merits of the case.
History.—s. 42, ch. 2010-60.
Structure Florida Statutes
Title XXXIX - Commercial Relations
Chapter 684 - International Commercial Arbitration
684.0002 - Scope of Application.
684.0003 - Definitions and Rules of Interpretation.
684.0004 - International Origin and General Principles.
684.0005 - Receipt of Written Communications.
684.0006 - Waiver of Right to Object.
684.0007 - Extent of Court Intervention.
684.0008 - Court for Certain Functions of Arbitration Assistance and Supervision.
684.0009 - Arbitration Agreement and Substantive Claim Before Court.
684.001 - Arbitration Agreement and Interim Measures by a Court.
684.0011 - Number of Arbitrators.
684.0012 - Appointment of Arbitrators.
684.0013 - Grounds for Challenge.
684.0014 - Challenge Procedure.
684.0015 - Failure or Impossibility to Act.
684.0016 - Appointment of Substitute Arbitrator.
684.0017 - Competence of Arbitral Tribunal to Rule on Its Jurisdiction.
684.0018 - Power of Arbitral Tribunal to Order Interim Measures.
684.0019 - Conditions for Granting Interim Measures.
684.002 - Applications for Preliminary Orders and Conditions for Granting Preliminary Orders.
684.0021 - Specific Regime for Preliminary Orders.
684.0022 - Modification, Suspension, or Termination; Interim Measure or Preliminary Order.
684.0023 - Provision of Security.
684.0026 - Recognition and Enforcement.
684.0027 - Grounds for Refusing Recognition or Enforcement.
684.0028 - Court-Ordered Interim Measures.
684.0029 - Equal Treatment of Parties.
684.003 - Determination of Rules of Procedure.
684.0031 - Place of Arbitration.
684.0032 - Commencement of Arbitral Proceedings.
684.0034 - Statements of Claim and Defense.
684.0035 - Hearings and Written Proceedings.
684.0036 - Default of a Party.
684.0037 - Expert Appointed by Arbitral Tribunal.
684.0038 - Court Assistance in Taking Evidence.
684.0039 - Rules Applicable to Substance of Dispute.
684.004 - Decisionmaking by Panel of Arbitrators.
684.0042 - Form and Contents of Award.
684.0043 - Termination of Proceedings.
684.0044 - Correction and Interpretation of Award; Additional Award.
684.0045 - Immunity for Arbitrators.
684.0046 - Application to Set Aside as Exclusive Recourse Against Arbitral Award.
684.0047 - Recognition and Enforcement.