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Claim Agreement means that contract entered into between Customer and SRS establishing their respective rights and Obligations pursuant to the handling of claims.
A contractual claim requires an entity that has issued a security to make payments to its purchaser in amounts and intervals specified by the original purchase contract. The person who purchases a bond has a contractual claim on the bond's coupon payments at times indicated in the original bond issue.
In a general release, a party agrees to waive the right to sue for future known and unknown claims from the beginning of time to the settlement or termination date. Many states allow general releases.
A written contract in which one or more parties agree to give up legal causes of action against the other party in exchange for adequate consideration (that is, something of value to which the party releasing the legal claims is not already entitled). Consideration may be offered in the form of severance.
A settlement agreement, also called a release, is a binding contract that settles a lawsuit or potential lawsuit between two or more parties and stipulates that no lawsuit can be filed in the future. The courts encourage parties to resolve their dispute through a settlement agreement rather than through the courts.