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Settlement Agreement for a Money Dispute

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The two parties
The dispute and the claim
The settlement and how it is paid
Place, date and signing

Step 1 of 4

The two parties

First Party's full name (the one claiming the money)Needed

For example: Ramesh Kumar

First Party's addressNeeded

House / flat / plot no.

Street, sector or locality

City area and PIN code

Second Party's full name (the one who will pay)Needed

For example: Suresh Enterprises

Second Party's addressNeeded

House / flat / plot no.

Street, sector or locality

City area and PIN code

More details — you may leave these

Who signs for the First Party, if it is a businessYou may leave this

For example: its director, Mr Ramesh Kumar

Who signs for the Second Party, if it is a businessYou may leave this

For example: its partner, Mr Suresh Kumar

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SETTLEMENT AGREEMENT

To settle a money dispute without further proceedings.

__________ of __________ (the First Party); and

__________ of __________ (the Second Party).

1. THE DISPUTE

2. THE SETTLEMENT AMOUNT

3. IF A PAYMENT IS MISSED

4. RELEASE

4.1 On receipt of the whole Settlement Amount, the First Party releases the Second Party from every claim arising out of the dispute described in clause 1, whether or not it has been made.

4.2 Each party also gives up every claim and counterclaim it has against the other arising out of that dispute.

5. NO ADMISSION

5.1 This Agreement is a compromise. Nothing in it is an admission by either party of any liability, or that any claim is true.

6. GENERAL

6.1 This Agreement is the whole agreement between the parties on the dispute, and may be changed only in writing signed by both.

_________________________
__________
First Party

_________________________
__________
Second Party

Witnesses

1. Name: _________________ Address: _________________ Signature: _________________

2. Name: _________________ Address: _________________ Signature: _________________

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