Definition from macmillandictionary.com
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They are negotiating a peace settlement.
the settlement of disputes between employers and employees
He got the flat as part of their divorce settlement.
an out-of-court settlement (=made without asking a court to decide)
They discovered the remains of an early Anglo-Saxon settlement.
Your duties include dealing with the settlement of guests’ accounts.
Enclosed is a cheque in settlement of the bill.
You can expect some settlement over time.