Before or after the filing of a complaint, the alleged father may propose a settlement concerning the child’s support whether the alleged father admits or denies paternity. The proposed contribution may be in a lump sum, installments, or otherwise. A settlement agreement shall be prepared, executed, and submitted to the court for approval if: the complainant agrees to accept the settlement; the attorney for the Administration is satisfied that the amount and terms of the settlement are fair and reasonable; the complainant has been advised properly regarding the contents of the settlement; and the complainant is competent to accept the settlement. If the court approves the settlement agreement, the terms of the agreement shall be incorporated in a court order. A court order incorporating a settlement agreement is as enforceable as any order that is passed after a hearing.