settlement
n. C / Un. an official agreement that ends a disagreement or a legal case. It can also mean a place where people have come to live and build homes.
n. an official agreement intended to resolve a dispute or conflict; alternatively, a place where a community is established. Often carries legal or historical connotations depending on the context.
The two companies reached a financial settlement today.
After months of negotiation, the union and the management finally signed a settlement to avoid a strike.
Archaeologists discovered the remains of a coastal settlement that suggests early inhabitants relied heavily on maritime trade rather than inland agriculture.
From settle + -ment.
Countable when referring to a specific agreement or a physical place; uncountable when referring to the general process of resolving a debt or dispute.