A template agreement recording the full and final settlement of a dispute reached through mediation, governed by the law of England & Wales.
How to use this template - Replace every
[SQUARE-BRACKET]field before use. - This records the binding settlement the parties agree at (or after) a mediation. Unlike the mediation itself, this document is legally binding once signed. - If court proceedings are already on foot, you can give effect to the settlement by a consent order or a Tomlin order (which stays the proceedings on the agreed terms), clause 7. - Have a solicitor review before signing.
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THIS SETTLEMENT AGREEMENT is made on [DATE]
BETWEEN (1) [PARTY A NAME] of [ADDRESS]; and (2) [PARTY B NAME] of [ADDRESS] (the "Parties").
Background
(A) A dispute arose between the Parties concerning [DESCRIPTION OF THE DISPUTE] (the "Dispute") [and proceedings [CLAIM NO.] were issued]. (B) The Parties attended a mediation on [DATE] and have agreed to settle the Dispute on the terms below, in full and final settlement.
Agreed terms
1. Settlement. The Parties settle the Dispute in full and final settlement on the terms of this Agreement.
2. Settlement sum. [PARTY] will pay [PARTY] £[AMOUNT] (the "Settlement Sum") by [DATE] / in [NUMBER] instalments as set out in Schedule 1, to [BANK DETAILS].
Note: add interest/default terms if paying by instalments.
3. Full and final settlement and release. On receipt of the Settlement Sum, each Party releases and forever discharges the other from all claims arising out of or connected with the Dispute, whether known or unknown, and will not bring or continue any proceedings in respect of them.
4. No admission of liability. This Agreement is entered into without any admission of liability.
5. Confidentiality. The Parties will keep the terms of this Agreement and the Dispute confidential, save as required by law, to enforce this Agreement, or with the other's consent.
6. Costs. Save as set out above, each Party bears its own costs.
7. Court proceedings (if any). [Where proceedings are on foot:] The Parties will give effect to this settlement by a [consent order / Tomlin order], and will file it at court to [dismiss / stay] the proceedings on these terms.
8. Entire agreement and further assurance. This Agreement is the entire agreement between the Parties about the Dispute, and each Party will do what is reasonably necessary to give effect to it.
9. Governing law and jurisdiction. This Agreement is governed by the law of England and Wales, whose courts have exclusive jurisdiction.
Execution
Signed by [PARTY A]: __________________ Date: [DATE] Signed by [PARTY B]: __________________ Date: [DATE]
Schedule 1, Payment terms (if by instalments)
--- This template is a starting point and not legal advice. A settlement agreement is binding once signed, have a qualified solicitor review and adapt it before signing. Governing law: England & Wales.