The settlement agreement, whether it is litigation settlement or arbitration settlement, is a contract in the category of civil law in nature, so it is contractually binding on the parties.

The agreement voluntarily signed by both parties has legal effect as long as it does not violate the relevant provisions of the contract law.

The settlement agreement is divided into four parts:

The first part: specify the names, gender, date of birth, ID number, occupation, residence, address and contact information of both parties to the settlement.

The second part: explain in detail the detailed process of things that need to be reconciled.

The third part: enumerate the mediation conditions reached by both parties in detail (including the content of the conditions, the way and time of realization, and the conditions and time when the mediation agreement takes effect).

The fourth part: the parties to the settlement sign and press their fingerprints, and the witnesses sign and press their fingerprints.

People's Republic of China (PRC) Civil Procedure Law

Article 230 In the course of execution, if both parties reach an agreement through self-settlement, the executor shall record the contents of the agreement in a record, which shall be signed or sealed by both parties.

If the application executor reaches a settlement agreement with the person subjected to execution due to fraud or coercion, or both parties fail to perform the settlement agreement, the people's court may resume the execution of the original effective legal document upon the application of the parties. ?

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