What is the term for a settlement of differences between opposing sides in which each makes concessions?

The term that describes a settlement of differences between opposing sides where each party makes concessions is compromise. Compromise is essential in conflict resolution and negotiation processes because it requires both sides to give up something in order to reach an agreement that is acceptable to all involved. This collaborative approach often leads to more sustainable solutions, as it acknowledges the needs and positions of both parties, fostering a sense of partnership.

In negotiations, while discussions and bargaining occur, the goal is to find common ground, which is precisely what a compromise embodies. It is distinct from other concepts like a strike, which typically involves one side refusing to work until certain demands are met, or just negotiations, which can occur without any concessions being made. Factors, on the other hand, generally refer to elements that contribute to a situation or outcome, rather than a process of reaching an agreement. Thus, in the context of settling differences, compromise is the most fitting term.