"We were prepared to go to court because it seemed we had no alternative," she said.
"We made numerous attempts to have serious discussions with the Ministry of Health over conditions and pay equity but had got nowhere.
"This is the first time we have had an unencumbered offer, to discuss and negotiate with executive decision makers within the Ministry."
She said the issue of gender-equity would remain a central point of discussion.
"We are not a union, we are not litigators, we are midwives caring for women and their babies and we want to be able to continuing doing just that within a safe and sustainable maternity service."
The College said midwives are being discriminated against on the basis of gender because their pay and conditions have not kept pace with that of traditionally male-dominated professions carrying similar levels of education and responsibility.
How does it compare?
Self-employed midwife: $40,000-$60,000
Receptionist: $33,000-$50,000
Firefighter: $43,000-$61,000
Primary school teacher: $46,000-$72,000
Registered nurse: $47,000-$64,000
Police (with 1-4 years' experience): $52,000-$57,000
Paramedic: $58,000-$72,000
GP: $70,000-$175,000