The settlement agreement is a document termination of individual employments; the document will clarify when the employment will come to an end and on what basis. It can be due to redundancy, resignation or mutual consents. There will be a payment to be made on the agreement; in many cases the payment will be negotiable.
A settlement agreement letter is a document of termination or a contract used to finalize, negotiate, and settle any sort of dispute. Settlement letter is a verbal agreement made between two parties and used cased such as debt settlement, disability, damage, accident, property, breach of contract or vacate premises.
The sample settlement agreement letter format below will help you write a better agreement letter to settle the employment to an end.
Sample Settlement Agreement Letter Template:
I am writing this letter to remind you that the contract of the franchise ends on July 10th, 2015 and I will be settling the entire amount on 9th July. As per the settlement agreement you need to send me all the bills, reports and product sales receipts.
As per the agreement, you also have the choice to extend the franchise for another 2 years if you wish else, it will be taken by another person. Please inform me if you would like to reapply for the franchise before 10th, of July.
I have also attached the agreement document along with this letter. Ensure to bring in all the documents to settle the final agreement. It has been a profitable business with you and i would actually suggest you take this offer once again and extend the agreement.