New York Sample Letter for Settlement Offer — Authorization of Settlement Offer Dear [Recipient's Name], I am writing to discuss a potential settlement offer in regard to the ongoing legal matter between [Plaintiff's Name] and [Defendant's Name]. After careful consideration and consultation with my client, I am pleased to present this settlement offer for your review and consideration. This settlement offer is being made in accordance with the laws of the State of New York, and we hereby authorize and propose the following terms: 1. Offered Amount: We propose a settlement amount of [insert dollar amount] to fully resolve all claims and disputes related to the aforementioned legal matter. This amount takes into account the damages suffered by our client, including but not limited to financial losses, emotional distress, and any other relevant factors. 2. Payment Terms: If accepted, the settlement amount shall be paid in a lump sum within [insert number of days] business days of the signed settlement agreement. Our preferred method of payment is by [insert payment method], but we are open to discussing alternative arrangements if necessary. 3. Liability Release: Upon receipt of the settlement amount, our client, [Plaintiff's Name], agrees to release and discharge [Defendant's Name], its agents, representatives, employees, and any affiliated entities from any and all further claims, demands, actions, or causes of action arising from the incident at issue. This release shall be deemed a full and final satisfaction of any and all claims, whether known or unknown, that our client may have against the defendant. 4. Confidentiality: Both parties agree to keep the terms of this settlement agreement and any discussions related to it strictly confidential and to not disclose any information to third parties without prior written consent, unless required by law. 5. Execution of Agreement: This settlement offer is subject to mutual acceptance and execution of a formal settlement agreement, which shall include all necessary provisions to ensure the finality and enforceability of the settlement terms. Please review this settlement offer thoroughly, and if acceptable, kindly sign and return a copy of this letter to signify your agreement. Upon receipt of your signed acceptance, we will proceed with preparing the formal settlement agreement for both parties to sign. We believe that this settlement offer is fair and reasonable given the circumstances of this case, and we sincerely hope that we can resolve this matter amicably and avoid further litigation expenses and prolonged court proceedings. Please do not hesitate to contact me at [insert contact information] if you have any questions or if you would like to discuss any aspect of this settlement offer further. Your prompt attention and response to this settlement offer is greatly appreciated. Thank you for your cooperation and consideration. Sincerely, [Your Name] [Your Law Firm's Name] [Your Contact Information] Keywords: New York, settlement offer, authorization, settlement agreement, legal matter, lawsuit, settlement amount, payment terms, liability release, confidentiality, execution of agreement, legal dispute.
New York Sample Letter for Settlement offer - Authorization of Settlement Offer
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How to fill out Sample Letter For Settlement Offer - Authorization Of Settlement Offer?
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FAQ
A Settlement Offer Letter is a communication between two parties in a dispute. The dispute does not have to be in a court of law, although most of the time, it is. One party sends the other party this Settlement Offer Letter, with the proposed terms for a complete settlement between the parties.
Dear Mr./Ms. Adjuster: Pursuant to our phone conversation on [insert date], please accept this letter as confirmation that we have agreed to settle, in full, my above-referenced claim for personal injuries for the amount of: [Agreed to Final Settlement Amount]. Thank you for your prompt attention to this matter.
Summary: Ultimately, it's better to pay off a debt in full than settle. This will look better on your credit report and help you avoid a lawsuit. If you can't afford to pay off your debt fully, debt settlement is still a good option.
At present, I am badly short of funds due to (Give explanations why have you defaulted on payments, job loss, illness, etc) and cannot afford the amount you have proposed. So, I would like to propose a counter offer. I would like to offer an amount of $ to settle the outstanding debt amount of $ with you.
By agreeing to the settlement and signing the release, you are releasing the defendant and typically any other defendant involved in the incident from further liability. To put it another way, once you reach a settlement, there is no way to go back and try to file a claim for more money.
The proposal should have your name, the creditor or debt collector's name, and the account number. It should also have the terms of the settlement, such as the amount being paid, whether it's paid in a lump sum or over time, and the payment due dates.
What Should Be Included in a Settlement Agreement? Identifying information for all involved parties. A description of the issue you're seeking to settle. An offer of resolutions that both parties agree to. Proof of valid consideration from both parties without coercion or duress. Legal purpose.
Statutory offer of settlement is a monetary offer extended to a plaintiff by a defendant to settle all disputes before trial. Usually the plaintiff has a short period of time depending on the state and case to accept the offer.