Document background
A Full and Final Payment Agreement is a critical legal document used in Irish jurisdiction when parties wish to definitively settle a dispute or claim through a monetary settlement. This document is commonly employed following successful negotiations, mediations, or court proceedings where parties have reached a settlement agreement. It serves multiple purposes: documenting the exact terms of settlement, specifying payment arrangements, addressing tax implications, and most importantly, providing a complete release of claims. The agreement's primary function is to prevent future litigation or claims relating to the same matter, offering both parties certainty and closure. Used across various sectors and circumstances, from employment disputes to commercial settlements, this agreement must comply with Irish contract law and civil liability legislation. The document typically includes provisions for confidentiality, tax treatment of payments, and may also address practical matters such as payment mechanisms and timing.
