Which of the following is correct with reference to Lok Adalat?

Lok Adalat is one of the modes of Alternative Dispute Resolution. The Lok Adalat Mechanism is available throughout the State through the Legal Services Authorities/Committees for amicable settlement. It is a very effective institution of alternative dispute resolution, where the cases pending in the court of law or at pre-litigation stage are settled amicably. The decision or decree of Lok Adalat is final and binding like a civil court. It consists of a sitting or retired judicial officer.