If you’ve been injured in a maritime accident, your case will fall under the Jones Act. The Jones Act allows injured seamen to sue their employer for negligence and recover compensation for their medical bills, lost wages, and pain and suffering.
While your claim may result in litigation, most maritime injury claims are settled out of court. There are many reasons for this, including the possibility of a smaller financial award if you go to court, and the costs associated with going to trial make settling out of court much more appealing.
Settlements allow both parties to retain some control over the outcome of their case. When you settle out of court, neither party has to give up anything because they’re working together to reach a fair settlement amount. In other words, everyone wins when you settle out of court because you can get the compensation you deserve without taking your case to trial.
What do you mean by the out-of-court settlement?
When an out-of-court settlement occurs, it means that the plaintiff (the party who is filing a lawsuit) and the defendant (the party whose actions led to the claim) come together to negotiate a settlement. This agreement occurs outside of any court proceedings, though lawyers or judges may mediate it. The details of an out-of-court settlement can vary greatly depending on the case, but both parties usually agree to end any ongoing legal action so that they don’t have to go through a trial.
It allows both parties to agree on how much the defendant should pay the plaintiff to make amends for their injuries, medical bills, and lost wages.
How does out-of-court settlement for maritime lawsuits work?
There are three stages at which you can settle a maritime injury lawsuit as per Lake Charles Maritime Law Attorneys.
First Stage
The first stage is the initial pre-suit negotiations between the plaintiff and the defendant. This is when both parties try to reach an agreement without involving lawyers. If this does not work, the plaintiff’s lawyer then sends a demand letter to the defendant’s insurance company or legal counsel. The letter is intended to present the facts of the case and request compensation. The second stage of settlement negotiations begins at this point.
Second Stage
The second stage is when you have already filed your claim, and the defense has answered it. After discovery is complete, both parties may attempt to settle before trial in mediation or arbitration with a neutral third party who hears out each side and makes a decision on the basis of compensation. If no resolution is reached during this phase, your attorney may recommend that you go to trial.
Third Stage
The third stage comes after you have gone through a trial before either party has appealed. A small number of cases are resolved through post-trial settlement agreements reached by both sides after they have had an opportunity to study what happened at trial, including jury verdicts and judgments made by judges during bench trials.
Note: Even though there is an injured party, it does not mean that compensation claims will be granted. However, you can still appeal to the court through an out-of-court settlement for maritime lawsuits. There are several parties involved in a maritime law case, and this means that the accused may be the one that pays for your losses. The amount you will receive will depend on how liable the other party was in causing the accident that resulted in personal injuries or death and how many people were injured or killed during the incident.
In what scenarios does the out-of-court settlement work?
You can apply for the settlement under the following cases:
Consent Decree – An agreement between two parties that settles a dispute without admission of guilt.
Mutual Release Agreement – An agreement made by two or more parties releases all claims against each other. ” Claims” is generally broad and may cover both known and unknown claims.
Preliminary Settlement Agreement – An agreement reached between two parties before trial intended to resolve all issues.
Settlement Agreement – An agreement entered into to settle a dispute or end a claim. Once both parties sign, a settlement agreement becomes binding and enforceable under its terms.
Stipulation Of Settlement – A contract entered into between opposing parties in an action, whereby they mutually agree to terminate their differences through a specified payment or performance.
Note: If your case is more complex or contentious, you may want to talk to a lawyer about the best way forward.
Why is out-of-court settlement for maritime lawsuits a preferable way to settle disputes?
According to Harvard Business Review, more than 90% of all lawsuits are settled out of court.
There are several reasons why people choose to settle their disputes outside the courtroom.
First, most people don’t want to go to court and risk losing their case. That is where out-of-court settlements come in. A settlement offers both parties a sense of security that they will get something out of the lawsuit.
Also, in most cases, settling out of court is quicker and less expensive than going through a trial. Both parties save time, money, and stress when they decide to settle their dispute without trial.
Should You Hire a Maritime Injury Attorney?
Settling a maritime lawsuit is often the best option for all parties involved. Settling out of court can save you time and money, and it will help you avoid the stress of litigation. If you are injured at sea, you should know that you have options other than going to court. Hiring a Lake Charles Maritime Accident Attorney in this situation is an ideal action to take.
However, the process of settling a claim can be complex, so you must consult with a qualified maritime lawyer who has experience settling these types of cases. Experienced Lake Charles Maritime Law Attorneys will be able to help you understand the process and make sure that your rights are protected every step of the way.
Get in touch with a Lake Charles Maritime Accident Attorney for further guidance.
