A Pennsylvania Third Party Settlement Agreement is a legal document used to settle disputes between two or more parties without the need for litigation or court proceedings. This agreement is commonly used in disputes involving businesses, individuals, and government entities and is particularly popular in Pennsylvania due to its specific legal statutes. The agreement details the terms and conditions of the settlement, including the amount of money to be paid, any other obligations of the parties, and a statement of release. The most common types of Pennsylvania Third Party Settlement Agreements are General Release Agreements, Mutual Release Agreements, and Confidential Settlement Agreements. A General Release Agreement is used when both parties agree to release each other from any further claims or liabilities related to the dispute. A Mutual Release Agreement is used when the parties agree to release each other from any future claims that they may have against each other. Finally, a Confidential Settlement Agreement is used when the parties agree to keep the terms of the settlement confidential.