Settlement Agreement
This model summarises all common elements to every type of Settlement Agreements. In the event litigation before a Belgian court or arbitration panel is pending it is advisable that parties submit a brief requesting the court or arbitrators to take formal note of the fact that the Parties are discontinuing pending proceedings.
SETTLEMENT AGREEMENT
Article 1. Object of this Agreement
Article 2. Terms of Settlement
Article 3. Difference of Facts
Article 4. Representation by the Parties
Article 5. No Admission of Liability
Article 6. Waiver of Right of Action
Article 7. Effect of this Agreement
Article 8. Interpretation
Article 9. Confidentiality
Article 10. Reimbursement of Costs
Article 11. Governing law and Jurisdiction
Article 12. Effective date of this Agreement