4. International settlement agreement

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

A settlement agreement shall be international by nature at the time of its conclusion where -

(a)

at least two of the parties to the settlement agreement have their places of business in different States; or

(b)

the State in which the parties to the settlement agreement have their places of business is different from either –

(i)

the State in which a substantial part of the obligations under the settlement agreement is performed; or

(ii)

the State with which the subject matter of the settlement agreement is most closely connected.