Final settlement refers to the resolution or conclusion of a legal dispute or financial transaction between parties involved. It typically involves the mutual agreement and acceptance of terms and conditions that bring closure to the matter at hand. Final settlements can occur in various contexts, including civil lawsuits, divorce proceedings, insurance claims, and business negotiations. Once a final settlement is reached and executed, it usually signifies the end of legal proceedings or financial obligations related to the issue in question.
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This glossary post was last updated: 28th March, 2024.
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