Settlement Agreement

 

Re:	Traffic Accident on DOA
	Location: PLACE
	Party A: PARTY_1_NAME of PARTY_1_ADDRESS_SINGLE_LINE (driver of CAR_A)
	Party B: PARTY_2_NAME of PARTY_2_ADDRESS_SINGLE_LINE (driver of CAR_B)

 

1.    Both parties confirm that no personal injury is involved in the Accident and both parties will not make any complaint to the JURISDICTION_STATE Police.

 

2.  On a without admission of liability basis, Party A agrees to pay Party B a sum of CURRENCYAMOUNT(inclusive of interests and costs) in full and final settlement of all claims whatever nature or kind whatsoever (including but not limited personal injuries claim and/or property damages claim and/or any claim for negligence and/or breach of statutory duties and/or breach of common duty of care or otherwise).

 

3.    Party B agrees to release Party A and his/her insurer(s) and/or his/her respective agents and/or servants and/or successors in title and/or any other person or persons in connection with him/her (collectively known as the “Released Parties”) in respect of any injury, damage and all other losses and expenses suffered and/or incurred by Party B and/or any other persons whether now or hereafter to become manifest arising out of or in connection with or traceable to captioned traffic accident to the intent that the Released Parties be absolutely and finally exonerated, released and discharged from all claims and liabilities for all such injury, damage, losses and expenses.

 

4.    Party B acknowledges and agrees that:-

(a) The agreed sum of CURRENCYAMOUNT(“the Settlement Sum”) is inclusive of interest and costs;

(b) On full payment of the Settlement Sum as aforesaid, the Released Parties shall be fully released, exonerated and discharged from all actions, claims, proceedings, damages, costs and expenses whatsoever and howsoever they may have arisen or arise in future which may have at any time arising out of and in connection of the captioned traffic accident; 

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