Jurisdiction(s):
United Kingdom

Key definition

Settlement definition

What does Settlement mean? In financial markets practice, settlement is the completion of a securities trade by delivering the securities to the buyer and paying the price to the seller, usually on a scheduled date after the trade (for example, T+2) and commonly on a delivery versus payment (DvP) basis. It is a descriptive market term rather than a single statutory definition, but is governed by legislation and market rules (including the UK onshored CSDR regime and the EU CSDR in Ireland, the Uncertificated Securities Regulations, the Settlement Finality Regulations, and central securities depository and CCP rulebooks). Key features include trade matching/affirmation, allocation of settlement...

Precedent pre-action drop-hands settlement offer letter (without prejudice save as to costs) under CPR - England and Wales

Published by a LexisNexis Dispute Resolution expert

Precedents

[ ON YOUR LETTERHEAD ]

[ Without prejudice save as to costs ]

[ Insert date ]

[ Insert name and address of other party’s solicitor ]

Dear [ insert contact name ]

[ Insert subject of letter ]

We refer to our open letter of [ today’s date OR [ insert date ] ]. As explained in that correspondence, both we and our client take the view that your client’s allegations against our client (as set out in your client’s letter dated [ insert date ] (the Letter of Claim)) are entirely without foundation and, if pursued before the court, would be rejected in full. In those circumstances, our client will seek to recover from your client all costs it has incurred in addressing this matter.

Furthermore, in addition to seeking such costs from your client, should proceedings be issued against our client, our client will bring a counterclaim against your client concerning [ insert details of prospective counterclaim and/or set-off as set out in our client’s letter dated [ insert date of letter ] ] (the ‘Counterclaim Letter’) together with its costs arising in relation to that counterclaim...

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Web page updated on 22/05/2026

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