Out of court settlement

[MrsP2008]

Can anyone advise me if there's a payment by date on an out of court settlement,?

[atticus]

You should agree that as part of the settlement terms.

For whatever it may be worth, the default position in respect of court orders is set out in CPR40.11:

40.11 A party must comply with a judgment or order for the payment of an amount of money (including costs) within 14 days of the date of the judgment or order, unless –

(a) the judgment or order specifies a different date for compliance (including specifying payment by instalments);

(b) any of these Rules specifies a different date for compliance; or

(c) the court has stayed the proceedings or judgment.

[MrsP2008]

Thank you, the settlement was agreed in writing 3rd August via solicitors, there are 2 defendants who agreed to split the settlement. One paid immediately the other 5 weeks later is non responsive. Our solicitor says there is no settlement due date, which seems totally wrong?

[atticus]

Was your solicitor involved in negotiating the settlement?

[dslippy]

If no date has been fixed (it probably should have been), then the law imposes a reasonable time limit. Start at 28 days and work from there.