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English definition of “settlement”

settlement

noun [C or U] (PAYMENT)    /ˈset.l̩.mənt/ US  /ˈset̬-/
the action of paying money to someone: The settlement of his debts took him several months . I enclose a cheque in settlement of your claim . Her mother made a settlement on her (= made a formal arrangement to give her money ) when she started college .Costs and expenses
(Definition of settlement noun (PAYMENT) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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