settlement

1 :  a formal agreement that ends an argument or dispute

2 :  final payment (as of a bill)

3 :  the act or fact of establishing colonies the settlement of New England

4 :  a place or region newly settled

5 :  a small village

1 :  the act or process of settling

2a :  an agreement reducing or resolving differences; especially :  an agreement between litigants that concludes the litigation the states finally agreed upon a settlement and a consent decree — W. J. Brennan, Jr. entered into a property settlement prior to the divorce b :  a formal and permanent grant or conveyance c :  the sum, estate, or income granted or paid under a settlement if the monetary limits of a defendant's insurance policy can be discovered in order to obtain reasonable settlements — J. H. Friedenthal et al.

3 :  closing settlement costs

4 :  the transfer of funds between a payor bank and a collecting bank in order to complete transactions for customers