settlement

/ˈsetlmənt/ noun

Definition

› [C or U] an official agreement or decision that ends an argument, often involving a payment of money: negotiate/reach a settlement The lawyer negotiated an out-of-court settlement of $2 million.

› [C or U] payment of a debt: in settlement of sth I wrote a check for $200 in settlement of my debts. Be sure to make full and final settlement by the repayment deadline.

› [U] FINANCE, STOCK MARKET the process by which shares and money are exchanged at the end of a day of trading on a financial market: The Stock Exchange has an electronic share settlement system.

› [U] the process by which payments are made on cheques: This charge is made for the returned cheque due to insufficient funds for cheque settlement. → See also the Bank for International Settlements, cash settlement, rolling settlement

(Definition of settlement noun from the Cambridge Business English Dictionary © Cambridge University Press)

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