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If the parties enter into an agreement on the fulfillment of obligations after receiving the court/the arbitration decision, no further notification of the court/the arbitration court is required. A settlement agreement is a written agreement of the parties in civil proceedings that terminates civil proceedings.
This denial is triggered when the amount paid by primary insurance is less than the secondary insurances allowable amount, but the primarys allowed amount is still higher than the secondarys. In essence, CO 23 throws a spotlight on the prior payers decisions, encompassing their payments and adjustments.
Some sources say it derives from when the Central Office of Tribunals (COT) had a Form 3 (hence COT3) which was a settlement agreement template. Others say its an acronym for compromise of tribunal (but they dont say what the 3 refers to).
A COT3 Settlement is a legally binding contract between two or more parties in a dispute at work. They are used to settle potential or actual Employment Tribunal claims. If someone is making a claim to an Employment Tribunal about a workplace dispute, they must inform Acas, who will offer early conciliation.
A COT3 is a form of settlement agreement that records the terms of settlement of an employment tribunal claim (or potential claim, if settled before an ET1 form is filed). The terms of the COT3 agreement will reflect what has been agreed between you and your employer.
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