Florida Regulations 69I-21.005: Procedure for Processing and Approving Settlement of Claims in Favor of the State
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(1) Each agency shall exercise due diligence within its lawful powers to secure full payment of all accounts receivable.
(2) Should any agency negotiate a proposed settlement agreement as to a delinquent account receivable prior to the date that the delinquent account receivable is required to be transferred to the Department for collection under Fl. Admin. Code R. 69I-21.003, the agency shall submit the proposed settlement agreement to the Department for approval prior to execution, or in the alternative, the agency may execute a provisional settlement agreement which under its terms will become effective only upon the Department’s subsequent approval.
(3) In addition to the proposed or provisional agreement, each agency shall also submit the following information:
(a) The nature of the transaction or events that created the debt to the agency;
(b) A brief explanation why the settlement is proper under the circumstances, including an explanation of how the settlement amount was derived; and
(c) Any other information that the Department may require to properly perform its duties pursuant to Florida Statutes § 17.04
(4) The Department will review information submitted with the proposed or provisional settlement agreement and recommend to the Chief Financial Officer action to be taken on such settlement.
Rulemaking Authority 17.29 FS. Law Implemented Florida Statutes § 17.04. History-New 1-8-86, Formerly 3A-21.05, 3A-21.005.
Terms Used In Florida Regulations 69I-21.005
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(3) In addition to the proposed or provisional agreement, each agency shall also submit the following information:
(a) The nature of the transaction or events that created the debt to the agency;
(b) A brief explanation why the settlement is proper under the circumstances, including an explanation of how the settlement amount was derived; and
(c) Any other information that the Department may require to properly perform its duties pursuant to Florida Statutes § 17.04
(4) The Department will review information submitted with the proposed or provisional settlement agreement and recommend to the Chief Financial Officer action to be taken on such settlement.
Rulemaking Authority 17.29 FS. Law Implemented Florida Statutes § 17.04. History-New 1-8-86, Formerly 3A-21.05, 3A-21.005.