lõppsettust

Lõppsettus, literally “end settlement,” is an Estonian legal and accounting term referring to the final resolution of all claims and obligations between parties at the conclusion of a transaction, dispute, or accounting period. The term combines lõpp (end) and settus (settlement) and is used in Estonian texts to describe the closing stage in various processes.

In practice, a lõppsettus occurs when the parties agree on remaining balances, complete final payments, release each other from future claims, and formalize closure in a written document. It is common in civil and commercial law, employment terminations, family law (such as divorce settlements), real estate transactions, bankruptcy proceedings, and insurance settlements. A typical document lists the final amounts, releases, conditions that survive, the date of closure, and the governing law.

The legal effect is usually a discharge from further liability on the settled matters, though outcomes depend on the document’s precise language and applicable law. It may include reservations or exclusions, and it often requires signatures by all parties. Lõppsettus thus serves to definitively conclude financial and legal obligations arising from an agreement or dispute.

Lõppsettus is related to but distinct from interim settlements or final invoicing. It aligns with terms in other jurisdictions such as final settlement or closing statement, but its exact form and enforceability depend on Estonian legal practice and the specifics of each case.