Full and final settlement
An agreement settling the claims within its stated scope, often in return for an agreed payment.
by Jack Butler-Kettle · About 1 min readShare
Further detail
A settlement closes the claims described by the agreement. Its scope may be wider than the particular invoice being discussed and can include future or unknown issues if the wording provides for that. Payment timing, release conditions and exclusions need as much attention as the settlement figure.
Check what is being given up before agreeing. Final account dispute assessment and response can help reconcile the commercial account, with legal review where release wording requires it.