A Settlement Agreement is a legally binding contract between two or more parties to resolve a dispute without going to court. It typically outlines the terms and conditions agreed upon by the parties, including any compensation or actions to be taken. This agreement helps avoid the time, expense, and uncertainty of litigation. These agreements are commonly used in various contexts, such as employment disputes, personal injury claims, and contract disagreements. Once signed, a Settlement Agreement usually prevents the parties from pursuing further legal action on the same issue, providing a clear resolution to the conflict.