Texas Civil Practice and Remedies Code 172.117 – Settlement
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(a) An arbitration tribunal may:
(1) encourage settlement of the dispute; and
(2) with the agreement of the parties, use mediation, conciliation, or another procedure at any time during the arbitration to encourage settlement.
(b) The arbitration tribunal shall terminate the arbitration if the parties settle the dispute.
Terms Used In Texas Civil Practice and Remedies Code 172.117
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(c) If requested by the parties and not objected to by the arbitration tribunal, the tribunal shall record the settlement in the form of an award on agreed terms.