Settlement Agreement
Settlement Agreement
Settlement Agreement
SETTLEMENT AGREEMENT
This Settlement Agreement is made and entered into this ____ day of ___________ 2021
in _________________ by and between:
-and-
WITNESSED THAT:
WHEREAS, as a consequence of the unverified report, the reputation of both parties was
seriously tainted and such has caused disgrace to their respective families;
WHEREAS, the parties desire to buy peace and wish to evade any future litigation in the
given circumstance.
1. the SECOND PARTY voluntarily offers the FIRST PARTY an amount of ONE
HUNDRED THOUSAND PESOS (P100,000.00) as payment for damages and the
FIRST PARTY willingly accepts the offer, which shall be given on or before
____________.
2. Concomitantly, the parties or their assigns hereby waive and renounce all their respective
claims and counterclaims subject of the foregoing incident, in connection therewith or in
relation thereto, and desire not to sue one another in a criminal action.
3. After the SECOND PARTY has faithfully complied with the payment, the parties have
settled to stay away from and remove any form of communication with one another in
order not to give rise to an issue out of such incident and to avoid further
misunderstanding.
4. The signatories to this Settlement Agreement hereby represent and warrant that they are
duly authorized to execute this Agreement.
5. This Settlement Agreement shall not affect nor prejudice any case or cases between the
parties not specifically referred to herein.
6. The foregoing covenants are not contrary to law, morals, or public policy and the parties
bind themselves to comply strictly with their undertakings.
IN WITNESS WHEREOF, the parties herein affixed their signatures on the date and
place above written.
_____________________ _____________________
FIRST PARTY SECOND PARTY
______________________ ______________________