A Settlement Agreement is a legally binding contract between two or more parties to resolve a dispute without going to court. These agreements often outline the terms of the settlement, including any payments, actions to be taken, or other conditions that must be met. They are commonly used in various contexts, such as employment disputes, personal injury claims, and contract disagreements. Once a Settlement Agreement is signed, it typically prevents the parties from pursuing further legal action related to the same issue. This helps save time and resources for both sides, allowing them to move forward without the uncertainty of a trial.