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Settlement Agreement


Overview
- The Settlement Agreement is used when two parties to a contract that is in dispute agree to settle and resolve their differences by further written agreement.
- By signing the settlement agreement and fulfilling all of the terms and obligations contained within it, the original contract is discharged and neither party may make any claim against the other party.
- Note also that this agreement may not be effective to get the release of certain claims arising by statute, such as a claim of age discrimination in employment.  
- Consult with an attorney before using this form for the release of claims by employees and other statutory based claims.

When You Need It
- To release another party from all claims you may have against them arising out of a previous contract, not just one specific claim.  
- If there is a possibility that you have other claims against the other party, consult an attorney before signing.


Getting Started

You will need:
- Name and address of the party paying the money in settlement of the claim.
- Name and address of the party receiving the money in settlement of the claim.
- The title of the contract in dispute and the date it was signed.
- The terms of the settlement (payment to made and when).

When to Review and Revise 
- To review the terms stated in the Agreement prior to signing (they cannot be easily changed after the document is signed).
- For use in the settlement of any other contract disputes.