Handling a dispute can be very stressful and sometimes, even risky. After all the struggle and sleepless nights, when a dispute gets resolved, a new challenge arises – ensuring that the settlement is well documented. This is crucial because if you do not get it done properly, complex issues can arise in later months or even in later years. Many do not realise how complicated it can be to make a solid agreement that binds all parties involved.
The individual handling the settlement must be well acquainted with the technical as well as the tactical aspects of the settlement. Since you must have fought hard and gone through many ups and down in your journey towards settlement, the agreement must cover all conceivable eventualities.
In order to create an effective settlement, here are four simple tips from our solicitors:
- Understand the meaning of key technical terms such as “without prejudice”, “without prejudice save as costs”, “subject to contract” etc. Whether you use these terms or not can have far-reaching implications on your settlement. It is vital to apply such terms wherever appropriate in documents and correspondences.
For example, if a correspondence uses the term “without prejudice”, it would mean that the contents of the correspondence cannot be used as evidence in the Court.
- When an offer is made or an offer is accepted, document it in the agreement in a clear and understandable way so that it binds all those who are under obligation to meet the requirements set out. Only then can the settlement be enforced according to plan.
- If you are making an offer, ensure that you set out all the key terms in a clear and comprehensive manner. If you are accepting an offer, read the terms carefully to make sure that you are happy with the terms included and that all the terms which you thought should have been included have been included.
- When you accept an offer, make sure to do it clearly and without qualifications. If your acceptance is conditional and is subject to change based on certain events or circumstances, mention specifically what these could be.
How Aristone Solicitors can help
When parties agree to resolve a conflict, it is not necessarily the end of the conflict. Many times, it can give rise to a new conflict – negotiating the terms of the settlement. As this article has suggested, a lot of care and consideration goes into preparing a successful agreement. If you want to settle a dispute once and for all, it is highly recommended that you consult an expert.
Aristone Solicitors specialise in Dispute Resolution. If you are in need of advice in connection with preparing an effective settlement or if you need legal representation at a settlement meeting, reach out to our solicitors by calling 01582 383888 if you are in Luton or 020 34393888 for Greater London.