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Third Party Settlement Agreement for the United Kingdom

Third Party Settlement Agreement Template for England and Wales

A Third Party Settlement Agreement is a legally binding document under English and Welsh law that resolves disputes or claims involving parties who were not originally party to the contract but have rights under it. The agreement sets out the terms of settlement, including payment obligations, releases, and any ongoing obligations. It is governed by the Contracts (Rights of Third Parties) Act 1999 and provides certainty and finality to all parties involved while protecting their respective interests.

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Third Party Settlement Agreement

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What is a Third Party Settlement Agreement?

A Third Party Settlement Agreement is used when resolving disputes or claims that involve parties who, while not original signatories to a contract, have acquired rights under it. Common in England and Wales, these agreements are particularly relevant where complex commercial relationships exist or where the rights of multiple parties need to be addressed. The document typically includes detailed settlement terms, releases, payment schedules, and confidentiality provisions, ensuring all parties' interests are protected while providing a comprehensive resolution to the dispute.

What sections should be included in a Third Party Settlement Agreement?

1. Parties: Identification of all parties involved in the settlement, including the third party beneficiary

2. Background: Context of the dispute and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Settlement Terms: Core settlement provisions including payment terms and obligations

5. Release Provisions: Terms of release from claims and liabilities

6. Confidentiality: Obligations regarding confidentiality of settlement terms

7. Governing Law: Specification of English and Welsh law as governing law

What sections are optional to include in a Third Party Settlement Agreement?

1. Tax Provisions: Include when settlement payments have tax implications or when tax consequences need to be specifically addressed

2. Insurance Provisions: Terms relating to insurance coverage and claims - include when settlement involves insurance matters

3. Non-Disparagement: Provisions preventing parties from making negative statements - include in high-profile or sensitive settlements

What schedules should be included in a Third Party Settlement Agreement?

1. Schedule of Payments: Detailed breakdown of settlement payments and timing

2. Schedule of Released Claims: Specific claims being settled and released

3. Form of Release: Standard form release document to be executed

4. Related Agreements: Copies of any relevant underlying agreements

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

England and Wales

Cost

Free to use
Relevant legal definitions


































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Industries

Contracts (Rights of Third Parties) Act 1999: Fundamental legislation governing third party rights in contracts, determining when third parties can enforce contractual terms and providing rules for variation and rescission of contracts

Law of Property Act 1925: Legislation relevant for any settlements involving property rights and important for formality requirements in property-related matters

Limitation Act 1980: Sets statutory time limits for bringing claims and is relevant for settlement terms and enforcement periods

Civil Procedure Rules (CPR): Procedural rules particularly Part 36 regarding Offers to Settle and requirements for valid settlement agreements

Consumer Rights Act 2015: Legislation applicable when any party to the settlement is acting as a consumer

Unfair Contract Terms Act 1977: Governs the reasonableness of contractual terms and limitation of liability provisions in agreements

Consumer Insurance (Disclosure and Representations) Act 2012: Relevant legislation when settlement involves insurance-related matters

Data Protection Act 2018 and UK GDPR: Applicable legislation when settlement involves processing or handling of personal data

Common Law Doctrine of Privity: Fundamental common law principle governing contractual relationships and rights between parties

Common Law Principles of Consideration: Essential common law requirements for valid contract formation regarding the exchange of value between parties

Common Law Principles of Offer and Acceptance: Fundamental common law principles governing how valid contracts are formed through offer and acceptance

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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