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CONCILIATION

Conciliation falls somewhere between mediation and arbitration. As an arbitrator, a conciliator is a neutral third party appointed by the parties who assist them in resolving the disputes. A conciliator cannot pass an award, however, he or she can make proposals for a settlement of the dispute. These proposals are not binding on the parties, and they may choose to disregard them. The settlement reached by the parties is then turned into a settlement agreement. It is also pertinent to mention that Conciliation in India is governed by the Arbitration and Conciliation Act, of 1996.