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The Florida Statutes

The 2021 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS
Chapter 684
INTERNATIONAL COMMERCIAL ARBITRATION
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F.S. 684.0041
684.0041 Settlement.
(1) 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.
(2) An award on agreed terms shall be made pursuant to s. 684.0042 and shall state that it is an award. Such an award has the same status and effect as any other award on the merits of the case.
History.s. 42, ch. 2010-60.