Offer to Settle
If you are already in the process of a lawsuit, it doesn’t mean you have to go to trial. You and the other parties can always reach a settlement on your own.
An Offer to Settle is a formal process to encourage parties to reach a settlement
Basically, if you think you can make a reasonable offer to the other side you can make that offer official by filing it with the court. The other party then only has a short period of time to accept it. If they do not and, at trial, a judge orders a result equal to or worse than your offer to settle, the judge may impose a penalty on the party who refused the offer.
When Can I Make an Offer to Settle?
If you’ve been to a settlement conference, you or the other party have 30 days from the conference (or longer if permitted by a judge) to make a written Offer to Settle. After the offer is accepted it can be filed with the registry and then it becomes a payment order and the trial is cancelled.