What is a settlement agreement?

A settlement agreement is a legally binding contract that resolves disputes. It is reached after negotiations but before a final decision is made. The agreement outlines the terms and conditions agreed upon by the parties involved.

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It allows parties to avoid litigation and reach a mutually acceptable resolution. Settlement agreements are often used in legal, financial, or contractual disputes to save time, costs, and resources. They provide clarity and closure, ensuring both parties understand their obligations and rights.

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