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The other side sends a formal settlement agreement with terms about the dispute's substance and money that were negotiated. There won't be any apologies or admissions of guilt in the agreement, as it cannot be used in further court proceedings. Settlement is about compromise, practical reasons, time, cost, and risks of litigation. It's important to understand and agree to the terms without taking them personally, as there may be various reasons for settling. You can negotiate for an apology, but there's likely a clause stating no admission of guilt.
