3 Parts of Every Construction Settlement
Everyone knows that to make a settlement stick, you need to get it in writing and get it signed. But there are 3 parts of every construction settlement that need to also be addressed if that settlement is to have the effect of timely releasing all the affected parties.
Part 1The names of all the parties who may be involved or have anything to do with the dispute;
Part 2A description of the what, when and where of the incident that led to the dispute, and
Part 3The consideration for the settlement - what are the parties giving and getting to obtain a release and settlement of the dispute.