Mich. Comp. Laws § 730.532
The parties prior to or at the hearing may make a settlement upon such terms as they may agree upon, in which case it shall be reduced to writing and signed by the parties, and the settlement shall be filed in the cause and in all respects shall be considered as a judgment rendered by the conciliator. Any judgment rendered in such conciliation division may provide for its satisfaction by payment to the clerk of the court or to the plaintiff of either a lump sum, or by installments in such amounts and at such times as the conciliator may deem just and reasonable under the circumstances. The presiding municipal judge or the conciliator in the cause thereafter for good cause shown may alter the amount of installment payments and the time of payment of such judgments, and authorize execution or garnishment to issue thereon where it appears that the defendant has not paid according to the terms of the agreement or order.
MCL 730.532