Which of the following describes a settlement conference?

A settlement conference is best described as a negotiation to resolve disputes. This process typically takes place before a trial, where the parties involved come together to discuss their differences and seek a mutually acceptable resolution. The goal of a settlement conference is to facilitate communication and encourage negotiations, often with the assistance of a mediator or judge who helps guide the discussion.

Option B accurately captures the essence of a settlement conference, emphasizing its role in dispute resolution rather than a formal legal procedure. This approach can save time and expenses associated with prolonged litigation, making it a valuable step in the legal process.

The other options do not represent the nature of a settlement conference accurately. A formal court hearing refers to a structured legal proceeding with a judge and is fundamentally different from the informal discussions that occur during a settlement conference. A final ruling by the judge suggests a definitive legal decision that follows the examination of evidence and arguments, whereas a settlement conference seeks to avoid such a ruling through negotiation. An annual review of contractor licenses pertains to administrative procedures related to licensing and regulation, which does not involve dispute resolutions typical of settlement conferences.