Stipulation of Fact is a formal agreement between two parties in a legal proceeding that outlines specific facts or conditions. This agreement is made in order to reach an understanding and avoid the need for a full trial. Stipulations of Fact can be used to save time and money, and they are typically binding upon both parties. There are two main types of Stipulation of Fact: Judicial Stipulations of Fact and Nonjudicial Stipulations of Fact. Judicial Stipulations of Fact are made between two parties and the court, and they are usually entered into the court record. Nonjudicial Stipulations of Fact are made between two parties without the court's involvement, and they are not typically entered into the court record.