ROAD ACCIDENT SETTLEMENT DEED
This Deed is made at Chandigarh on 2 April 2026 between:
Gurpreet Singh, of House No. 12, Phase 3, SAS Nagar (Mohali), Punjab (the "Claimant"); and
Ramesh Kumar, of House No. 88, Sector 40-C, Chandigarh (the "Other Party").
- 1. THE ACCIDENT
1.1 On 1 April 2026, at Light point, Sector 17, Chandigarh, a road accident took place between the Claimant’s vehicle, registration number PB10 AB 1234, and the Other Party’s vehicle, registration number CH01 AB 5678 (the "accident").
1.2 In short: The Other Party’s car hit the rear of the Claimant’s car while it was stopped at a red light.
1.3 No police report or case has been made about the accident.
1.5 An insurer is or may be involved: ABC General Insurance, policy no. 1234567, claim no. C/26/0098. The Parties have told, or will tell, the insurer of this Deed.
- 2. THE SETTLEMENT
2.1 The Parties have agreed to settle the claim of the Claimant against the Other Party for: damage to the Claimant’s vehicle only.
2.2 The Other Party shall pay the Claimant ₹45,000 (Rupees Forty Five Thousand only) (the "Settlement Amount"), as follows: In full on signing, by bank transfer to the Claimant’s account, reference to be noted on the receipt.
2.3 The Claimant shall give a written receipt for each payment.
- 3. WHAT THE CLAIMANT GIVES UP
3.1 On receiving the whole Settlement Amount, the Claimant accepts it in full and final settlement of the loss described in clause 2.1, and shall make no further money claim against the Other Party for that loss arising from the accident.
3.2 Until the whole Settlement Amount is paid, the Claimant keeps every right to claim. If the Other Party fails to pay on time, the Claimant may sue for the unpaid amount.
- 4. WHAT THIS DEED DOES NOT DO
4.1 This Deed is a private settlement of a money claim. It does not promise that any police case, report or prosecution will be withdrawn or closed, and nothing in it is paid for that purpose. The police and the courts may act as the law allows. If a case is pending, either Party may tell the court of this settlement, and what effect it has is for the court.
4.2 This Deed does not bind an insurer, the Motor Accident Claims Tribunal or any other person who is not a party to it, and does not cover any loss or injury other than that described in clause 2.1, nor any loss to a third person.
- 5. GENERAL
5.1 Each Party signs of their own free will, after reading this Deed, and nothing in it is an admission of fault by either Party unless the Parties have said so in clause 1.2.
5.2 This Deed is made in two copies, and each Party keeps one.
Signed on the date and at the place stated above.
Claimant: Gurpreet Singh
Signature: ______________________________
Other Party: Ramesh Kumar
Signature: ______________________________