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Mediation settlement agreement for dispute highlighting the mediation settlement amount, settlement date and other settlement terms as full and final settlement of the dispute.
The parties are desirous of settling the matter referred to in this Settlement Agreement amicably after mediation in the following terms and conditions. The agreement covers issues on costs and expenses, release and discharge of liabilities, full and final settlement of claims, etc.
THE PARTIES HAVE AGREED AS FOLLOWS:-
The parties agreed to attempt in good faith to settle their dispute at the mediation and this Settlement Agreement is made in relation to the mediation.
In consideration of the premises that the Defendant shall pay the sum of and the performance by the Claimant on the terms and conditions provided hereinbelow, the parties shall settle the Claim in the manner stated below.
The Defendant shall deliver a lawyers’ cheque or cashiers’ order in the amount to the Claimant by as full and final settlement to the Claim.
The Claimant hereby agrees and undertakes the following performance for the Defendant within 3 working days from the date of clearance of the said lawyers’ cheque or cashiers’ order
The Claimant confirms that he has no claim whatsoever against the Defendant and agrees hereby to release and discharge the Defendant and any of the associates of the Defendant from all past, present and existing liabilities.
This settlement agreement should be carefully read by the settlement payee and the settlement payor involved.
This agreement may be used to record the settlement amount, date, and other settlement terms when the parties both agree to have a full and final settlement of their dispute at the mediation.
Both parties should sign the agreement and return a copy, and once signed, both parties should get a copy.
To avoid any future disputes, both parties should have their signatures witnessed.