All templatesSETTLEMENT AGREEMENT
THIS SETTLEMENT AGREEMENT is made on the ______ day of ____________ 20____ BETWEEN Kamande Hauliers Limited and Mwangaza Fuels Limited (together "the Parties").
1. The dispute
The dispute between the Parties is the claim for unpaid haulage fees of KES 5,700,000 in Nairobi Milimani Commercial Court Civil Suit No. E330 of 2026.
2. Settlement terms
The Parties agree as follows:
(a) Mwangaza Fuels Limited pays Kamande Hauliers Limited KES 4,500,000 within 30 days of signing.
(b) The payment is made without any admission of liability on the part of Mwangaza Fuels Limited.
(c) Each party bears its own costs.
3. Release
On performance of clause 2, the Parties fully and finally release each other from all claims arising from the haulage contract dated 1 March 2025.
4. The pending suit
The Parties will file a consent in the suit described in clause 1 recording this settlement.
5. Notices
A notice under this Agreement is given in writing and delivered or posted to the party at its address:
Money and debts
Settlement agreement template (Kenya)
Also called: Settlement & Release Agreement
What it is for
Both sides agree to end a dispute and release each other.
The Kenyan law it follows
- Civil Procedure Rules 2010 — Order 25 rule 5 (a suit adjusted by lawful agreement is recorded and judgment entered in accordance with it)
Who prepares it
You can prepare this yourself. It is still wise to have an advocate read it before you sign, especially where a lot of money or a long commitment is involved.
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Sample settlement agreement
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This is a sample for general information. It is not legal advice and may not suit your situation. Laws change, and a document has to fit your own facts; have an advocate check it before you rely on it.