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out-of-court settlement


An out-of-court settlement occurs when the two parties make an agreement on any claim without having a judge come to a decision in the case. Generally, an out-of-court settlement allows one party to pay a sum of money to the other and in return the other party will close their lawsuit. Mainly, a settlement is a lawfully binding agreement which ends the case exclusive of going to court. The best ways to record an out of court settlement is to enter into an agreement that is binding on both parties detailing the terms of settlement. This agreement must be carefully...

Hybrid Dispute Resolution- its advantage over other Methods in BFSI


        Krusch Pathippallil Antony

 

1.0 Hybrid Dispute Resolution- its advantage over other Methods.

Alternative Dispute Redressal (ADR) is defined in various ways. The National Alternative Dispute Resolution Advisory Council (NADRAC), Victoria, has defined ADR as an ‘umbrella’ term for processes, other than judicial determination, in which an impartial person assists those in a dispute to resolve the issues between them. ADR offers rich variety of process designed to suit all types of disputes and all types of disputants.

 Hybrid Dispute Resolution (HDR) is a development over ADR, and offers significant advantages over mediation alone and arbitration alone....