A Structured Settlement describes an agreement and arrangement in terms where of one party receives periodic payments from the other party for a defined period of time. Structured Settlement was first used in Canada and United States to facilitate payment of agreed amount by way of installments to mitigate the financial burden on the payer which would otherwise arise if the payer is required to pay the total agreed amount in one go. Currently, the system has found favour in a number of other countries like Australia and the United Kingdom. Sometimes, Structured Settlement are called Periodic Payments.