What are the legal implications of concluding a settlement between the parties to a lawsuit before the judicial panel?

The settlement concluded between the parties to the lawsuit before the judicial panel is binding on both parties. The panel shall authenticate it and enforce its terms. The session minutes containing the settlement shall be considered an enforceable instrument, and the lawsuit is thereby terminated, in accordance with the provisions of Islamic Sharia and the prevailing regulations, including Article (2/29) of the Commercial Courts Law.