Dear [Recipient's Name], I am writing to provide you with confirmation of the settlement that was reached during our recent telephone conversation regarding the matter at hand. This letter serves as an official record of our agreement in order to avoid any potential misunderstandings or disputes in the future. As discussed on the phone, we have mutually agreed upon the terms and conditions of the settlement, which are outlined below: 1. Parties involved: This settlement is between [Your Company/Organization Name] and [Other Party's Name or Organization]. 2. Case details: Provide a brief summary of the case, mentioning the nature of the dispute or issue, and any relevant dates or events leading to the settlement discussions. 3. Settlement amount: Clearly state the amount agreed upon as the settlement payment. Ensure to include the currency and any installment terms if applicable. 4. Release of claims: Both parties agree to release each other from any further claims or liabilities related to the specific dispute. 5. Confidentiality clause: Include any provisions relating to confidentiality and the protection of sensitive information discussed or exchanged during the telephone conversation. 6. Payment procedure: Specify the preferred method of payment, such as bank transfer, check, or any other acceptable method. Provide relevant details, including account numbers or mailing addresses. 7. Timelines: Mention the deadlines or due dates for the settlement payment, if applicable. 8. Governing law: Specify the jurisdiction and governing law that will be applied to resolve any disputes arising from this agreement. 9. Contact information: Include your contact information (name, phone number, email address, and mailing address), as well as the recipient's contact information for any further correspondence or inquiries. The aforementioned details are agreed upon and will serve as the settlement agreement between both parties. By signing below, you confirm your acceptance and understanding of this settlement arrangement. Please return a signed copy of this letter within [specified time frame] to officially acknowledge the agreement. We believe that this settlement will bring a fair and amicable resolution to the matter, avoiding lengthy litigation and further costs for both parties involved. Should you have any questions or require additional clarifications, please do not hesitate to reach out to me. Thank you for your cooperation and prompt attention to this settlement. Yours sincerely, [Your Name] [Your Title/Position] [Your Company/Organization Name] [Date] [Enclosure: Copy of the settlement agreement]