Maryland Stipulation of Parties And Award of Compensation is a legal process that allows an injured person or his/her family to seek compensation from a liable party. The process involves a number of steps, including filing a claim, negotiating a settlement, and making an award of compensation. The stipulation of parties is the first step in the process, and involves both parties agreeing to the terms of the claim. The claim must be signed by all parties, and must include the details of the case, including the type of injury, the amount of damages sought, and the name of the liable party. The award of compensation is the second step, and involves a determination of the amount of money the liable party must pay to the injured person or his/her family. This can be done through a court hearing, or through mediation or arbitration. In some cases, a jury may be involved in the award of compensation. There are two types of Maryland Stipulation of Parties And Award of Compensation: a lump sum award, and a structured settlement. A lump sum award is a single payment made to the injured party, while a structured settlement is paid out in installments over time.