Conciliation in the context of "Litigation"

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⭐ Core Definition: Conciliation

Conciliation is an alternative dispute resolution process whereby the parties to a dispute rely on a neutral third-party known as the conciliator, to assist them in solving their dispute. The conciliator, who may meet with the parties both separately and together, does this by: lowering tensions, improving communication, interpreting issues, and assisting parties in finding a mutually acceptable outcome.

Unlike litigation or arbitration, conciliation is a voluntary, confidential, and flexible method aimed at resolving conflicts without the need for formal legal proceedings. The conciliation process has no legal standing and the decision made by the conciliator is not binding. The conciliator usually has no authority to seek evidence or call witnesses, usually writes no decision, and makes no award.

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Conciliation in the context of International Centre for Settlement of Investment Disputes

The International Centre for Settlement of Investment Disputes (ICSID; French: Centre international pour le règlement des différends relatifs aux investissements or CIRDI) is an international arbitration institution established in 1966 for legal dispute resolution and conciliation between international investors and States. ICSID is part of and funded by the World Bank Group, headquartered in Washington, D.C., in the United States. It is an autonomous, multilateral specialized institution to encourage international flow of investment and mitigate non-commercial risks by a treaty drafted by the International Bank for Reconstruction and Development's executive directors and signed by member countries. As of May 2016, 153 contracting member states agreed to enforce and uphold arbitral awards in accordance with the ICSID Convention.

The centre performs advisory activities and maintains several publications.

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