From Longman Business Dictionarysettlement termsˈsettlement terms [plural]LAW the conditions under which two sides involved in a legal or industrial disagreement agree to end a law case, STRIKE etc, for example by an amount of money that one side will pay to the otherUnder the settlement terms, both companies agreed not to run the ads any more. → termsettlement termsˈsettlement terms [plural]COMMERCE conditions under which customers receive price reductions for paying within certain periods of time, for example a 5% reduction for paying within 30 days and a 2% reduction for paying within 60 days → term
