The purpose of these standards is to guide attorneys who are representing clients in a civil case in settlement negotiations. The standards discuss the duties of competence and fair-dealing; disclosure restrictions and requirements; the client's authority over settlement negotiations and the settlement decision; preserving the integrity of the settlement process; representations and omissions; agreements with opposing parties relating to settlement; and issues of fairness.
Ethical Guidelines for Settlement Negotiations
American Bar Association Litigation Section. Aug. 2, 2001http://www.americanbar.org/content/dam/aba/migrated/litigation/ethics/settlementnegotiations.authcheckdam.pdf