Settlement agreement

Goods and services
Select support levelCompare
Recommended

Document overview

This settlement and release agreement (often called a compromise agreement) is suitable where the supplier has delivered unsatisfactory (faulty or unsuitable) goods or services and has agreed to settle for a specified and reduced final payment.
Compliant
Compliant with the latest law in
  • AB
  • BC
  • MB
  • ON
  • SK
Document propertied
Document properties
  • Length:3 pages (660 words)
  • Available in:
    MsWordMicrosoft Word DOCXApple pagesApple PagesRTFRTF
watertight guarantee
Backed by our watertight guarantee

If the document isn’t right for your circumstances for any reason, just tell us and we’ll refund you in full immediately.

writing in plain english
Written in plain English

We avoid legal terminology unless necessary. Plain English makes our documents easy to understand, easy to edit and more likely to be accepted.

Notes
Guidance notes included

You don’t need legal knowledge to use our documents. We explain what to edit and how in the guidance notes included at the end of the document.

email
Support from our legal team

Email us with questions about editing your document. Use our Lawyer Assist service if you’d like our legal team to check your document will do as you intend.

Update
Up to date with the latest law

Our documents comply with the latest relevant law. Our lawyers regularly review how new law affects each document in our library.

About this document

This Settlement and Release agreement (often called a compromise agreement) is suitable where the supplier has delivered unsatisfactory (faulty or unsuitable) goods or services and has agreed to settle for a specified and reduced final payment.

As drawn, it provides for either payment to be made by the customer and for the goods or services to remain with the customer, or for the supplier to remove the goods or services and for the customer to pay nothing. Either way, there is flexibility for both parties.

This compromise agreement effectively overwrites any previous agreement between the parties - whether written or verbal.

This agreement is suitable between businesses only. If one of the parties is a consumer, statutory rights set down in the Sale of Goods Acts and the Regulations take precedent over any agreement such as this.

Application and features

  • Very flexible to suit the requirements of either or both parties;
  • Protects both sides;
  • Suitable for use in Canada or internationally;
  • Suitable between businesses.

Contents

  • Appropriate legal provisions - warranties, exclusions, indemnities;
  • Terms of settlement - how much is to be paid, when, how and by whom;
  • Who will collect the goods and when (if appropriate);
  • Successors and assigns;
  • Other provisions to protect your interests.
Sample settlement agreement

Choose the level of support you need

Document Only

Complete the document template yourself using our guidance notes
C$20.00
  • ok This document
  • okDetailed guidance notes explaining how to edit each paragraph
Most Popular

Lawyer Assist

Support from our legal team during and after editing
203 Reviews
C$140.00
  • ok This document
  • okDetailed guidance notes explaining how to edit each paragraph
  • okUnlimited email support - ask our legal team any question related to completing the document
  • ok
    Review of your edited document by our legal team including:
    • reporting on whether your changes comply with the law
    • answering your questions about how to word a new clause or achieve an outcome
    • checking that your use of defined terms is correct and consistent
    • correcting spelling mistakes
    • reformatting the document ready to sign
© 2000 - 2024 Net Lawman Limited.
All rights reserved