There are multiple definitions - click on the translation that matches your context.

Vergleichsabschluss

Substantiv

partial

settlement

noun

Comparative law notes

The German term may in many case may be referring to the process and completion of a settlement, in which case the phrase "reaching a settlement" may be more appropriate.

Definitions of settlement

an arrangement to end a legal dispute before a final adjudication (=decision by a court) of a matter

The parties were unable to reach an out-of-court settlement, so the case proceeded to trial.

the act of arranging for a trustee to keep land for a beneficiary

In most jurisdictions, settlements only confer beneficial rights under a trust.

the transfer of property from one owner to another

A settlement agent will protect your interests during the settlement process.