Conciliation is the process of resolving a legal dispute out of court, involving an agreement in which one party pays a certain amount to the other in exchange for withdrawing the lawsuit. This usually involves an initial investigation, filing settlement demands, and reaching a final agreement. During the discovery phase, your attorneys and the attorneys of the other party's insurance company will exchange information. This may involve providing documents to the other party and making deposits. When a customer makes a purchase, the transaction goes through different stages, including authorization and batch processing, before reaching liquidation.
Liquidation means the completion of a financial transaction and allows companies to access funds. The speed and efficiency of the payment settlement process can affect a company's cash availability and financial management. This list of the stages that make up the typical schedule of a personal injury lawsuit will provide you with an overview of the process.