2 Chapter Ten Principles for Crafting Effective Settlement Agreements

• Library: Crafting Effective Settlement Agreements: A Guidebook for Attorneys and Mediators (ABA) (2018 Ed.)

CHAPTER 2 Ten Principles for Crafting Effective Settlement Agreements

A desire for success should be matched by a willingness to prepare.

Reaching agreement is a process that requires communication to ensure clarity, effort to understand the proposed terms, and work to memorialize the details of the ultimate settlement agreement. When the process of reaching agreement works well, the result works well too. A settlement agreement becomes attractive as the parties realize how it improves their situation over continuing with a legal dispute. Well-written settlement agreements help parties understand their obligations and remind them of the exact terms of their agreement. On this point, it is well worth remembering Mark Twain's confession, "I have...