SETTLEMENT AGREEMENT
Parties
Background
Party A is ${party_a_description}
Party B is ${party_b_description}
A Dispute has arisen between Party A and Part B.
The parties have reached an agreement and have agreed terms for the full and final settlement of all claims between the parties. They record those terms of settlement, on a binding basis, in this agreement.
Agreed terms
The parties hereby agree that this agreement sets out a legally binding settlement which is to be considered, full and final settlement of any and all claims between the parties.
This agreement is in full and final settlement of any and all claims between the parties, and each party hereby releases and forever discharges, all and/or any actions, claims, rights, demands and set-offs, whether in this jurisdiction or any other, whether or not presently known to the parties or in law or equity.
Each party hereby indemnifies, and shall keep indemnified, the other party against all costs and damages (including the entire legal expenses of the parties) incurred in all future actions, claims and proceedings in respect of any claims brought or sought to be brought in breach of this agreement.
This agreement is entered into to record a settlement which has been negotiated between the parties. It is not and shall not be represented or construed by the parties as, an admission of liability or wrongdoing on the part of either party to this agreement or any other person or entity.
If any provision or part-provision of this agreement is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of this agreement.
The terms of this agreement, and the substance of all negotiations in connection with it, are confidential to the parties and their advisers, who shall not disclose them to, or otherwise communicate them to, any third party without the written consent of the other party other than:
This agreement shall be governed by and construed in accordance with the law of England and Wales.
Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation.
The parties agree that the terms of this agreement are not enforceable by any third party under the Contracts (Rights of Third Parties) Act 1999.
No variation of this agreement shall be effective unless it is in writing and signed by the parties.
This agreement has been entered into upon the signing of the agreement by both parties.
${defendant_name} (Party A)
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Dated: …………………………………………………………
${claimant_name} (Party B)
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Dated: ………………………………………………………..