set·tle·ment

/ˈsɛtl̩mənt/ noun, pl -ments

1 a [count] : a formal agreement or decision that ends an argument or dispute

I got the house in the divorce settlement.

The parties have not been able to reach/negotiate a settlement in the case.

an out-of-court settlement [=an agreement made to avoid a court case]

also : an amount of money that someone receives as part of such an agreement

a cash settlement

a settlement of two million dollars = a two-million-dollar settlement

1 b [singular] : the act or process of settling an argument or disagreement

We were hoping for a quick settlement of the dispute between the neighbors.

2 [noncount] : the act of paying back money that is owed

— often + of

the settlement of our debts

He paid $20,000 in settlement of a loan.

3 a [count] : a place where people have come to live and where few or no people lived before

English settlements in North America

This was the island's first colonial settlement.

3 b [noncount] : the act or process of moving to a new area or place to live there : the act or process of settling an area or place

— often + of

The rifle played a big role in the early settlement of North America.

3 c [count] : a small village

They came upon the ruins of an ancient settlement.