Settlement agreement
A written agreement recording the terms on which a debt or dispute is resolved, including payment and any release of further claims.
Related terms
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Settlement
An agreement that resolves a debt, claim or dispute on agreed terms without needing the matter to continue to full enforcement or trial.
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Partial settlement
An agreement where a creditor accepts a payment towards the debt but does not necessarily release the remaining balance unless the settlement terms expressly say so.
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Debt settlement
An agreement under which a creditor accepts an agreed payment or series of payments in resolution of a debt, often for less than the full balance.
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