statutory offer of settlement

Definition from Nolo’s Plain-English Law Dictionary

A written offer of a specific sum of money made by a defendant to a plaintiff, which will settle the lawsuit if accepted within a short time. The offer may be filed with the court. If the eventual judgment for the plaintiff is less than the offer, the plaintiff will not be able to claim the court costs usually awarded to the prevailing party.

Definition provided by Nolo’s Plain-English Law Dictionary.