Settlement of Disputed Amount Buyer

I. Introduction

This Settlement Agreement ("Agreement") is made and entered into by and between [Your Company Name] ("Buyer") and [Seller Company Name] ("Seller"). This Agreement is intended to resolve all disputes related to the disputed transaction dated [Transaction Date] for the purchase of [Product/Service Description].

II. Definitions

The following definitions apply in this Agreement:

• "Disputed Amount" refers to the total sum of money disputed by the Buyer, which totals [Disputed Amount].

• "Effective Date" means the date on which this Agreement is signed by both parties.

• "Parties" refers to both the Buyer and Seller involved in this Agreement.

• "Settlement Payment" refers to the payment to be made by the Seller to settle the Disputed Amount.

III. Settlement Terms and Conditions

1. Settlement Amount: It is agreed that the Seller will pay the Buyer a total of [Settlement Amount] as full settlement for the Disputed Amount.

2. Payment Terms: The Settlement Amount shall be paid according to the following terms:

   • Initial deposit of [Initial Deposit Amount] due by [Deposit Due Date].

   • The remainder to be paid in [Number of Installments] installments of [Installment Amount] each, commencing on [Start Date] and thereafter on the [Day of Month] of each month.

3. Method of Payment: Payments shall be made via [Bank Transfer/Cheque/Other] to the following account:

   • Bank Name: [Bank Name]

   • Account Number: [Account Number]

   • Routing Number: [Routing Number]

IV. General Provisions

1. Confidentiality: Both parties agree to keep the terms of this Agreement strictly confidential unless required by law to disclose them.

2. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of [State] without regard to its conflict of laws principles.

3. Entire Agreement: This Agreement contains the entire agreement between the parties regarding its subject matter and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to its subject matter.

4. Amendment: No amendment to this Agreement will be effective unless it is in writing and signed by both parties.

VII. Execution

This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Facsimile or electronic signatures shall be deemed original signatures for all purposes.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

[PARTY A]

Name: [PARTY A'S FULL NAME]

Date: _______________________

[PARTY B]

Name: [PARTY B'S FULL NAME]

Date: _______________________

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