This letter is an agreement letter which indicates the conditions and guidelines regarding the transfer of funds from one party to the other. The important viewpoints of such a letter include the amount, time, interest, and other similar aspects.
Customarily, it is an employer and employee (or former employee) who are the contracting participants to a settlement agreement. These letters can be agreed upon by the employee and the employer so that both parties are satisfied and the perspectives of both the parties are stated.
The Settlement Agreement letters are legally binding and can be used in the court of law for any dispute between the parties arises. The terms and conditions mentioned in a Settlement Agreement letter are mutually agreed upon by both the parties. Both the parties before finalizing negotiate terms and conditions given in the letter.
Settlement Agreement Letter Writing Tips
- The letter should specify the important details.
- The letter should also specify how the settlement can be tackled.
- The letter should specify the amount.
- The letter should be clear and simple.
- The letter should express the terms & conditions from the standpoint of both the parties.
Settlement Agreement Letter Template
Use our free Settlement Agreement Letter to help you get started.
From,
__________
__________
__________
__________
Date: _____ (Date on Which Letter is Written)
To,
__________
__________
__________
__________
Subject: _______________________(Mention the purpose)
Respected _______(Name),
This letter is the form of a settlement agreement in between the company and the client. This issue is with regard to the taking back the client’s gold pledged in our company____(mention the name of company) in the form of loan …………. (Time in years or months) and has not paid any amount in till the day under interest.
Therefore, it his responsibility to pay the required interest and the principal amount which equals ____(amount). If the client has any sort of doubt regarding the interest or anything in addition to that, he is free to contact the office before making the payment and taking back his jewelry.
Hope you will get back to me very early.
Thanking you.
Yours Sincerely,
__________
(Name and signature)
Sample Letter
From,
Gurumurthy,
Jyoti Jewellers,
Block 7, La Salette,
MG Road,
Nashik – 412314
13th October 2013
To,
Mr. Ram Charan
Sector 7, Laxmi Road
Wanowrie,
Nashik – 412343
Subject: Request to consent on Settlement Agreement letter.
Respected Sir,
This letter is the settlement between the gold loan company Jyoti jewelers and Mr. Ram to arrange the gold fixed in the company for cash. A contract was prepared two years back, and the client has not been able to pay the interests of any sort till the day.
The amount he took from the bank was Rs 10,000, and the interest and the compound interest now amounts nearly 16,000. And as per the agreement of settlement, the client is ready to pay the amount and take back the jewels.
The company is levying on the client both the simple and compound interest as per the agreement reached between the client and us. All these provisions were made clear before he pledged his gold in our bank. And we request the party concerned to read this settlement letter and in case if he feels that there is any doubt and needs further clarification he can contact us for assistance.
Thanking you,
Yours sincerely,
Gurumurthy
Email Format
The following is the Email Format that should be followed while writing a Settlement Agreement Letter.
To: name@email.com
From: name@email.com
Subject: Request to consent on Settlement Agreement letter.
Respected Sir,
This letter is the settlement between the company and the client about the taking back his gold guaranteed in our company Puja Gold. A contract was prepared three years back, and the client has not been able to pay the interests of any sort till the day.
Hence it becomes is his responsibility to pay the interest and the principal amount which comes to 2,00,000 Rupees. All these conditions were made clear before he pledged his gold in our bank.
We request the party concerned to please go through this, and if they feel that they have any doubts and need clarification, then he can contact us.
Thanking you.
Yours Sincerely,
Sri Darshan
Leave a Reply
You must be logged in to post a comment.