New Jersey § 34:15-20

§ 34:15-20.

In case of a dispute over or failure to agree upon a claim for compensation between

employer and employee, or the dependents of the employee, either party may submit

the claim, both as to the questions of fact, the nature and effect of the injuries,

and the amount of compensation therefor according to the schedule herein provided,

to the Division of Workers' Compensation, as prescribed in article 4 of this chapter

( section 34:15-49 et seq. ). After a petition for compensation or dependency claims has been filed, seeking compensation

by reason of accident, injury or occupational disease of any employee, and when the

petitioner is represented by an attorney of the State of New Jersey, and when it shall

appear that the issue or issues involve the question of jurisdiction, liability, causal

relationship or dependency of the petitioner under this chapter, and the petitioner

and the respondent are desirous of entering into a lump-sum settlement of the controversy,

a judge of compensation may with the consent of the parties, after considering the

testimony of the petitioner and other witnesses, together with any stipulation of

the parties, and after such judge of compensation has determined that such settlement

is fair and just under all the circumstances, enter “an order approving settlement.”

Such settlement, when so approved, notwithstanding any other provisions of this chapter,

shall have the force and effect of a dismissal of the claim petition and shall be

final and conclusive upon the employee and the employee's dependents, and shall be

a complete surrender of any right to compensation or other benefits arising out of

such claim under the statute. Any payments made under this section shall be recognized as payments of workers'

compensation benefits for insurance rating purposes only.