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Document Description
Full and Final Settlement agreement for traffic accident (no personal injury). This is drafted in favour of the driver not at fault.
This is a settlement agreement for a traffic accident in which there was no personal injury, and this is drafted in favour of the driver not at fault. It comprises 1) a mutual confirmation that no personal injury was involved in the accident and that both parties will not make any complaint to the relevant police, 2) a mutual agreement for Party A to pay Party B a specific sum in settlement of the damages to vehicles arising from the above accident, and 3) Party B acknowledging receipt of full payment of the Settlement Sum from Party A. Also, it requires details which are the date and location of the traffic accident, both parties' name, ID, address and plate number of the relevant vehicle.
How to use this Document?
Full and Final Settlement agreement for traffic accident (no personal injury). This is drafted in favour of the driver not at fault.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
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