Illinois Settlement Conference Memorandum (ISCM) is a legal document used in the court system in Illinois to record the decisions made during a settlement conference. It is a summary of the discussions, issues, and agreements of the parties involved in the dispute. Isms are typically used in civil cases to help resolve disputes without the need for a trial. The memorandum includes the names of the parties, the issues discussed, the proposed settlement terms, and a statement of the parties' agreement to the settlement terms. There are two types of Isms: voluntary and court-ordered. A voluntary ISCM is an agreement reached between the parties, and a court-ordered ISCM is an agreement approved by the court. Both types of Isms are binding on the parties and enforceable in court.
Illinois Settlement Conference Memorandum
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FAQ
The Mandatory Settlement Conference At the MSC, both parties and their attorneys will meet with the settlement judge to try to come to a resolution of all contested issues. The settlement judge does not have the authority to make any rulings. They are there to facilitate the meeting and work toward resolution.
A confidential settlement agreement is a standard provision that is included in most settlement agreements. A confidential settlement agreement prevents the parties to the settlement and their attorneys from disclosing how the agreement was reached and details about the dispute.
A Settlement Conference Memorandum is a legal document filed with the Court prior to a Settlement Conference. The Settlement Conference Memorandum contains the party's position on issues to be addressed at the upcoming Settlement Conference.
The goal of a settlement conference is to facilitate the parties efforts to negotiate a settlement of all or part of the dispute.
Even where settlements are confidential, parties will often agree that the terms of settlement can be disclosed to party's attorneys, accountants, insurance companies and other professional advisors, as necessary for business purposes.
How do I prepare for the settlement conference? A good faith settlement demand and offer must be exchanged in advance of the settlement conference. Counsel appearing on behalf of their clients must be completely familiar with the case and possess complete authority to negotiate and settle.
A settlement conference is an opportunity for the parties in a case to discuss issues and make their own decisions as to how to resolve these issues, while meeting with a judge who will not preside over the trial in their case if a trial is still required.