The Amicable Settlement as a Viable Alternative Dispute Resolution

Abstract

This paper studies the amicable settlement and its characteristics in order to demonstrate the advantages and utility of adding it to the Ecuadorian legal framework, for alternative dispute resolution methods in the Arbitration and Mediation Law. For this, different international law systems are compared to prove its independent and flexible nature, which will differentiate it from the out of court arbitration and other existing mechanisms. Through it, a mandatory decision is obtained that generates a res judicata effect. The amicable settlement must be understood as a new and original alternative dispute resolution that privileges the parties free will and contractual freedom for its formulation and procedure. Unfortunately, the amicable settlement is not avowed in the Ecuadorian legislation, therefore its inclusion would mean a valuable addition for citizens to resolve their contractual disputes.