Definition, Meaning & Synonyms
settlement amount
noun
/ˈsɛt(ə)lmənt əˈmaʊnt/
Definition
The total sum of money agreed upon in a settlement agreement, typically part of a legal dispute or contract resolution.
Examples
- The settlement amount was agreed upon after lengthy negotiations between the two parties.
- In personal injury cases, the settlement amount can sometimes be reached before a court date.
- She was satisfied with the settlement amount, as it covered her medical expenses.
Meaning
Settlement amount refers to the financial compensation that is paid to resolve a dispute or claim without going to trial.
Synonyms
- Compensation
- Settlement sum
- Resolution payment
