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A settlement agreement is a legally binding contract between two parties that is meant to resolve disputes or streamline legal issues. When people think about settlement agreements, the first thing that comes to mind is often separation agreements between divorcing or separating spouses.

You can deposit the settlement check into your bank account and use it any way you wish. It can take about six weeks for you to have the money in your hands. Most law firms issue paper checks to their clients.

A Settlement Agreement (formerly known as a Compromise Agreement) is a legally binding agreement between you and your employer. This usually provides for a severance payment by the employer in return for your agreement not to pursue any claims in a Tribunal or a Court.

A signed settlement agreement is a powerful document requiring the demonstration of an extreme condition to render it null and void. If a party wishes to back out of the settlement, then they must prove the existence of fraud, duress, coercion, or unconscionability.

A settlement agreement might involve your employer promising to pay you a sum of money, stop treating you unlawfully or both. The settlement agreement is a legal contract between you and your employer - you both have to stick to it. Your employer is likely to want you to keep the agreement confidential.

An agreement that ends a dispute and results in the voluntary dismissal of any related litigation. Regardless of the exact terms, parties often choose to keep their settlement agreements private.

Generally, when a settlement agreement is reached, the responsible party pays an amount to compensate for the ?damages,? or losses, their negligence caused the victim.