A master settlement agreement is a kind of an agreement which is formed or drafted between two or more than two companies so as to reach some kind of a formal settlement. Any such agreement is made so as to come to a certain compromise which all the parties make in order to settle an issue. A master settlement agreement contains various terms and conditions based on which the parties sign the document and agree to conducting themselves during the effective period of the agreement.
A master settlement agreement is generally made in the case when one party demands something from the other but has to agree to something in order to convince it to fulfill the demands. The agreement document consists of details such as names and addresses of the parties, monetary details, details of the settlement, terms and conditions and the signatures of all the involved parties of the agreement.
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