![]() ![]() ![]() Like any other agreement, it can be formed orally and does not necessarily need to be documented, although it is best practice to ensure it is captured in writing to avoid satellite disputes as to the terms of settlement. In essence, settlement or compromise is when the parties come to a binding agreement for the resolution of a dispute - they settle their differences. How do I end legal proceedings that have been settled?.What should a settlement or compromise agreement contain?. ![]() Will settlement negotiations prejudice my position in legal proceedings?.In this insight we look at the key considerations in reaching, documenting and enforcing settlement of disputes. But finding a workable commercial compromise is only the first step in settlement. As a result, the overwhelming majority of disputes are resolved by some form of negotiated compromise between the parties, rather than by a final decision from a court or other tribunal. In addition, parties in litigation are positively encouraged to settle their disputes without a full trial, and can be penalised in costs for failing to make a genuine attempt to do so. James Sidwell, Ashley Pigott, Christopher Richardsįormal dispute resolution procedures such as litigation and arbitration can involve significant financial and time investment which can detract from a company's key business and be an unwelcome drain on resources. ![]()
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