14.
| (1) It shall not be incompatible with arbitration proceedings 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 any other procedure at any time during the arbitral proceedings to encourage settlement. |
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| (2) If, during arbitral proceedings the parties settle the dispute, the arbitral tribunal shall if requested by the parties, record the settlement in the form of an arbitral award on agreed terms. |
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| (3) An arbitral award on agreed terms shall be made in accordance with section 25 and shall state that it is an arbitral award on agreed terms. |
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| (4) An arbitral award on agreed terms has the same status and effect as any other arbitral award made in respect of the dispute. |
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Sri Lanka Consolidated Acts