Settlement agreements are useful documents that help parties involved in a legal dispute to resolve their differences outside of court. A settlement agreement letter is a document that outlines the terms and conditions of a settlement agreement between two or more parties. The letter should clearly state the terms of the agreement and should be signed by all parties involved. Here is a sample settlement agreement letter that you can use as a guide.
[Your Name] [Your Address] [City, State ZIP Code] [Date] [Other Party`s Name] [Other Party`s Address] [City, State ZIP Code]Dear [Other Party`s Name],
I am writing to confirm the terms of our settlement agreement. As we discussed, we have reached a mutually acceptable resolution to our dispute over [dispute subject]. This letter outlines the terms and conditions of our settlement agreement.
1. Payment: [Other Party`s Name] agrees to pay [Your Name] the amount of [amount] as full and final settlement of all claims arising from [dispute subject]. The payment will be made by [method of payment].
2. Release of Claims: By signing this settlement agreement letter, [Your Name] releases [Other Party`s Name] from all claims and causes of action arising from [dispute subject]. [Other Party`s Name] agrees to dismiss any legal action against [Your Name] related to [dispute subject].
3. Confidentiality: Both parties agree to keep the terms of this settlement agreement confidential and not to disclose them to any third-party, except as required by law.
4. No Admissions: The parties agree that the payment made under this settlement agreement does not constitute an admission of liability by [Other Party`s Name] and that [Your Name] accepts it in full and final settlement of all claims.
5. Governing Law: This settlement agreement letter shall be governed by and interpreted in accordance with the laws of [State].
Please sign this settlement agreement letter as evidence of our agreement to its terms. This letter represents the entire agreement between us and supersedes any prior negotiations, representations, or agreements, whether written or verbal.
Thank you for your cooperation in resolving this dispute amicably.
Sincerely,
[Your Name] [Your Signature] [Other Party`s Name] [Other Party`s Signature]