This a short form to be used when a claim has been resolved between two parties. It contains provisions for both a claim and in the event a lawsuit has been filed. It provides for a full release of known and unknown claims between the parties and thus prevents additional claims to be brought after the settlement has been reached. In the event the claims involve litigation, it also provides for dismissal with prejudice of any pending litigation. This agreement should be signed prior to the release of any monies by either party.