Disputed Account Settlement Template
This Disputed Account Settlement Agreement (“Agreement”) is entered into on [Date], by and between:
Party A (Creditor):
Name/Company: __________________________
Address: __________________________
Email: __________________________
Phone: __________________________
Party B (Debtor):
Name/Company: __________________________
Address: __________________________
Email: __________________________
Phone: __________________________
Collectively referred to as the “Parties.”
1. Background
The Parties acknowledge that a dispute exists regarding certain financial transactions or account balances, specifically related to:
[Describe nature of dispute, e.g., unpaid invoices, incorrect billing]
2. Settlement Amount
The Parties agree to settle the disputed account for the total amount of $[Settlement Amount].
Party B shall pay the settlement amount as follows:
☐ Lump Sum Payment due by [Date]
☐ Installment Payments of $[Amount] due [Frequency] until paid in full
3. Mutual Release of Claims
Upon receipt of the full settlement amount, both Parties release and discharge each other from any and all claims, demands, or actions related to the disputed account.
4. Payment Method
Payments shall be made via [Payment Method, e.g., bank transfer, certified check] to the following account or address:
[Account Details or Mailing Address]
5. Confidentiality
Both Parties agree to keep the terms of this Agreement and the underlying dispute confidential, except as required by law or for accounting purposes.
6. No Admission of Liability
This settlement does not constitute an admission of liability or wrongdoing by either Party. It is entered into solely for the purpose of avoiding further dispute and litigation.
7. Breach of Agreement
If Party B fails to make payments as specified, Party A may pursue enforcement of this Agreement, including legal action to recover the full amount originally claimed.
8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State/Country].
9. Entire Agreement
This document represents the complete understanding between the Parties and supersedes all prior negotiations or agreements related to the disputed account.
10. Signatures
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.
Party A Signature: __________________________ Date: _________
Printed Name and Title: __________________________
Party B Signature: __________________________ Date: _________
Printed Name and Title: __________________________