law: Arbitration Act 1940
  Section 30
  Settlement
  (1) It is not incompatible with an arbitration
  
  agreement for an arbitral tribunal to encourage settlement of the dispute and,
  
  with the agreement of the  parties,  the arbitral
  
  tribunal may use mediation, conciliation or other procedures at any time during
  
  the arbitral proceedings to encourage settlement.
  (2) 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.
  (3) An arbitral award on agreed terms shall be
  
  made in accordance with section 31 and shall state that it is an arbitral
  
  award.
  (4) An arbitral award on agreed terms shall
  
  have the same status and effect as any other arbitral award on the substance of
  
  the dispute.