Settlement Offer Letter - Template, Sample Form Pro · NG-law

________
________

________

________
________

Dear Sir/Madam,

WITHOUT PREJUDICE SAVE AS TO COSTS

RE: PROPOSAL FOR AMICABLE SETTLEMENT — ________; SUIT NO: ________
IN THE ________, ________

Lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat duis aute irure dolor in reprehenderit voluptate velit esse cillum dolore eu fugiat nulla pariatur lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim.

We refer to the above claim instituted on ________ in respect of the following subject matter:

________

Lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat duis aute irure dolor in reprehenderit voluptate velit esse cillum dolore eu fugiat nulla pariatur lorem ipsum dolor sit amet consectetur adipiscing elit sed do.

§1. Payment by the Defendant to the Claimant of the sum of ₦________ (________) as full and final settlement of all claims, counterclaims and disputes connected with or arising from the above matter, such sum to be paid within ________ of the execution of a formal Terms of Settlement, by way of ________ into the account particulars to be provided in writing.

§2. A complete discharge, waiver and release of all present and future claims, demands, liabilities, fees, charges, damages, interest, costs or proceedings of whatsoever nature arising from or connected with the above matter. This waiver and release shall enure to the benefit of and bind the respective parties, their heirs, successors-in-title, assigns, legal representatives, administrators and executors.

§3. Upon receipt of the agreed settlement sum, the parties shall jointly execute Terms of Settlement and procure same to be entered as the consent judgment of the Honourable Court, or in the alternative the Claimant shall file a Notice of Discontinuance pursuant to the applicable Rules of Court, with each party bearing its own legal costs and incidental expenses, save as may be otherwise agreed in writing.

§4. The parties shall keep the terms and existence of any settlement strictly confidential, save where disclosure is required by law, regulatory authority or order of court, or for the purpose of enforcement.

§5. Time shall be of the essence in respect of the obligations set out herein, and in the event the proposed settlement is not concluded, the parties reserve all their respective rights and remedies and the suit shall proceed in the ordinary course.

Please note that this letter does not constitute a binding agreement; it is an initial offer or proposal for the settlement of claims and is subject to negotiation and further deliberation. No concluded or enforceable settlement shall arise until reduced into a formal written Terms of Settlement duly executed by the parties and/or adopted by the Honourable Court.

Should you wish to schedule a meeting to discuss this matter further, kindly contact the undersigned on telephone — ________, and by email — ________. Where, however, you are agreeable to the above terms, kindly forward your written confirmation of acceptance within ________ from the date hereof, whereupon a formal Settlement Agreement/Terms of Settlement shall be prepared for execution.

We thank you for your anticipated cooperation and look forward to your favourable response.

Yours faithfully,

_____________________
________
________
For: ________
Legal Practitioner to the Claimant
Address: ________