Terms of settlement of a dispute - COMM 24

If you wish to resolve a dispute with somebody then this is a good document to use.

Sample

"A. ?a7? (" ?a12? ") are the Directors ?a4? (" ?a14? ").

B. ?a1? has alleged that it supplied building materials to ?a4? and that ?a4? is indebted to it for some of the building materials it alleges it supplied to ?a4? .

C. ?a1? caused to be issued out of the Federal Court of Australia (Victoria District Registry - General Division) an application and statement of claim ("the Application and Statement of Claim") in proceeding ?a8? ("the proceeding") in which it was alleged, inter alia, that ?a7? permitted ?a4? to trade with ?a1? whilst insolvent in contravention of section 592 of the Corporations Act of 1989.

D. ?a7? have denied that they or either of the them are liable to ?a1? in any manner whatsoever pursuant to the subject matter of the Application and Statement of Claim or otherwise.

E. Solely in an order to avoid the expense and inconvenience of litigation, the parties have agreed to settle the Proceeding on the following terms and conditions.

4. ?a1? agrees to file a Notice of Discontinuance in this proceeding by ?a9? .

5. The parties expressly agree that the terms of these Terms of Settlement are not confidential and any party may release details of these Terms of Settlement to third parties in any manner they may see fit.

6. Each party will bear its own costs (including all legal costs) of the Proceeding to date.

7. In the event of any non-compliance by any party with these Terms of Settlement each of the parties acknowledge that this document constitutes evidence of the terms of settlement between them and may be relied upon in a court of law as such. "