1-567.60. Settlement.
(a) An arbitral tribunal may encourage settlement of the dispute and, with the agreement of the parties, may use mediation, conciliation, or other procedures at any time during the arbitral proceedings to encourage settlement.
(b) 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.
(c) An award on agreed terms shall be made in accordance with the provisions of G.S. 1-567.61 and shall state that it is an arbitral award. Such an award shall have the same status and effect as any other award on the substance of the dispute. (1991, c. 292.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 45B - International Commercial Arbitration and Conciliation.
§ 1-567.30 - Preamble and short title.
§ 1-567.31 - Scope of application.
§ 1-567.32 - Definitions and rules of interpretation.
§ 1-567.33 - Receipt of written communications or submissions.
§ 1-567.34 - Waiver of right to object.
§ 1-567.35 - Extent of court intervention.
§ 1-567.36 - Venue and jurisdiction of courts.
§ 1-567.37 - Definition and form of arbitration agreement.
§ 1-567.38 - Arbitration agreement and substantive claim before court.
§ 1-567.39 - Interim relief and the enforcement of interim measures.
§ 1-567.40 - Number of arbitrators.
§ 1-567.41 - Appointment of arbitrators.
§ 1-567.43A - Disclosure by arbitrator.
§ 1-567.44 - Failure or impossibility to act.
§ 1-567.45 - Appointment of substitute arbitrator.
§ 1-567.46 - Competence of arbitral tribunal to rule on its jurisdiction.
§ 1-567.47 - Power of arbitral tribunal to order interim measures.
§ 1-567.48 - Equal treatment of parties; representation by attorney.
§ 1-567.49 - Determination of rules of procedure.
§ 1-567.50 - Place of arbitration.
§ 1-567.51 - Commencement of arbitral proceedings.
§ 1-567.53 - Statements of claim and defense.
§ 1-567.54 - Hearings and written proceedings.
§ 1-567.55 - Default of a party.
§ 1-567.56 - Expert appointed by arbitral tribunal.
§ 1-567.57 - Court assistance in obtaining discovery and taking evidence.
§ 1-567.58 - Rules applicable to substance of dispute.
§ 1-567.59 - Decision making by panel of arbitrators.
§ 1-567.61 - Form and contents of award.
§ 1-567.62 - Termination of proceedings.
§ 1-567.63 - Correction and interpretation of awards; additional awards.
§ 1-567.64 - Modifying or vacating of awards.
§ 1-567.65 - Confirmation and enforcement of awards.
§ 1-567.66 - Applications to court.
§ 1-567.68 - Recodified as § 1-567.33A by Session Laws 1997-368, s3.
§ 1-567.78 - Appointment of conciliators.
§ 1-567.80 - Report of conciliators.
§ 1-567.82 - Stay of arbitration; resort to other proceedings.
§ 1-567.83 - Termination of conciliation.
§ 1-567.84 - Enforceability of decree.
§ 1-567.86 - Effect on jurisdiction.
§ 1-567.87 - Immunity of conciliators and parties.
§ 1-567.88 - Uniformity of application and construction.
§ 1-567.89 - Relationship to federal Electronic Signatures in Global and National Commerce Act.