Document background
The Structured Settlement Agreement is a specialized legal instrument used in the Philippines when parties seek to resolve substantial claims through periodic payments rather than a single lump sum. This document is particularly valuable in cases involving personal injury, wrongful death, workers' compensation, or major financial disputes where long-term financial security is crucial. The agreement must comply with Philippine civil law, including the Civil Code and Alternative Dispute Resolution Act, while incorporating specific provisions for funding mechanisms, payment schedules, and tax considerations. It's commonly used when the settlement amount is significant, the claimant requires long-term financial support, or there are tax advantages to structured payments. The document typically includes detailed payment terms, funding arrangements (often through annuities), provisions for beneficiaries, and specific protections required under Philippine law.
