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Netherlands - Arbitration Act * 1 December 1986 Code of Civil Procedure - Book Four: Arbitration
Netherlands
copy @ Lex Mercatoria
1. If during the arbitral proceedings the parties reach a settlement, the arbitral tribunal may, at the joint request of the parties, record the contents of the settlement in the form of an arbitral award. The arbitral tribunal may refuse the request without giving reasons.
2. An arbitral award on agreed terms shall be regarded as an arbitral award to which the provisions of Sections Three to Five inclusive of this Title shall be applicable, provided that:
(a) the award may be set aside only on the ground that it is contrary to public policy or good morals,
(b) notwithstanding the provisions of article 1057, the award does not need to contain reasons, and
(c) the award is also signed by the parties.
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