A settlement agreement is a document between two or more parties that aims to resolve a dispute without going to court. The agreement outlines the rights, duties and obligations of each party involved in the dispute, along with the consequences for non-compliance. It may involve payment of money, exchange of services, performance of certain duties, or other forms of restitution. Settlement agreements can help save time, money and stress by providing a quick resolution to difficult legal issues. With the proper execution of a settlement agreement, there’s no need for expensive court costs or lengthy litigation.
Want to find out more about procurement?
Access more blogs, articles and FAQ's relating to procurement