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Definitions Edit

Financial institution Edit

Settlement is

[a]n act that discharges obligations with respect to funds or securities transfers between two or more parties.[1]

General Edit

A settlement is

[a]n agreement made between two parties to avoid litigation, or to resolve a lawsuit prior to a decision by the judge or jury.[2]

References Edit

  1. Internet Banking: Comptroller’s Handbook, at 84.
  2. USPTO, Glossary (full-text).

References Edit

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