Can any one explain which settlement (18(1) or 12(3)) is best for Employer as well as Union (wage settlement under ID Act'1947)

Dear Sirs,
Please explain that which settlement is best for Employer and which settlement is best for Union under Industrial Dispute Act'1947 either 18(1) - Bipartite or 12(3) - Tripartite) and why.
With regards
AK

Dear Colleague,
It is tripartite ,12 (3) settlement is always better for both .It is iron clad, binding on both the parties, and no dispute on the matters covered by it for the period of settlement can be raised.
Regards,
Vinayak Nagarkar
HR- Consultant

Settlement under Section 18(1) will only be binding only between the parties who signed the the settlement .
Wheres the settlement under section 12(3), before the Conciliation officer, will have a legal binding for all the employees of the organisation as mentioned in the settlement, for the period mentioned in the settlement
Both are legally correct. Which one is required to be decided, depending up on the situations / conditions and parties to the settlement.

Pls refer the link here on cite hr.it may help.
https://www.citehr.com/439684-re-id-...-3-18-3-a.html

Dear Colleague,
In normal manner bipartite settlement is always good for industry and proves better cohesiveness.
The tripartite settlement comes to picture when bipartite settlement fails and matter goes to labour department for a settlement. The agreement is signed between three i.e. Employer, Union and Conciliation Officer.

Settlements under 12(3) done through the conciliation of the labour officer/commissioner is always better. Normally you will not have any disputes.