TERMS OF SETTLEMENT

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At a Glance

This Settlement Agreement is in the form of a deed with common provisions relating to release and discharge of court proceedings.

The definitions and interpretation provisions are located in a schedule at the back making it easier to read and draft.

INCLUDES

  • Bar to actions
  • No admission of liability
  • GST
  • Confidentiality
  • Warranties by parties
  • Counterparts, execution
  • Costs
  • Severance
  • Variations
  • Further assurances

 

Key Components of Terms of Settlement

  1. Parties Involved: Identification of all parties involved in the settlement, including their roles and responsibilities.
  2. Settlement Amount: The amount of money, if any, to be paid by one party to another as part of the settlement.
  3. Payment Terms: Details on how the settlement amount will be paid, including payment methods, schedules, and any conditions for payment.
  4. Release of Claims: Agreement that all parties release each other from any further claims or liabilities related to the dispute.

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