a deed of settlement, also called a deed of settlement and release, is a document that formalises the terms of that agreement. this article explains the essential terms of a deed of settlement and when you need to use one. a deed of settlement will also ensure the dispute doesn’t emerge again at a later date. normally, the deed will include a release, where parties agree to release the other from all future claims, demands and actions. if you reach the settlement agreement when legal proceedings are underway, the deed of settlement should include terms to finalise those proceedings. usually, a form of notice of discontinuance or consent orders agreed to by the parties will be attached to the deed.