By way of clarification, I provide architectural expert witness services and work with the client and solicitor on setting up the conditions leading up to the case - inspections, surveys, reports - as opposed to running the case itself. Thus, I'm usually the one being informed of the dealing by both our and the other side, so the details of what gets lodged, why, how when and by whom is not my domain.
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My experience of being a spectator to proceedings is that the bond lodged with the court is not a "settlement offer" per se. I have seen bonds entered where no settlement was separately discussed. The bond is a way for one party to concentrate the mind of other party on the realities of any award that might be offered. The lodgement of such a bond explicitly says, as your quotation states - "this is what we think you're likely to get awarded."
"...which he or she alleges is sufficient to satisfy the plaintiff's claim..."
Going by the section you're quoted, the time limit seems designed to give the Judge four days notice of both the bond being lodged and the defendants intention to defend the case before he/she hears the case, as opposed to a time relating back the the issuing of proceeds after which a bond cannot be entered.
I'm not certain how the court would inform a layperson taking their own case of the lodgement of a bond if such occurred. Where I've been involved the notification always came via the Barrister.
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A "settlement offer" may be between the parties outside of the court. Such offers are often passed to and fro using the good offices of the Barristers appointed to the case. Discrete see groups gather at either end of the corridors outside the courts in which the case is to be hears, each one composed of the parties to the legal action. From time to time the Barristers take the long walk from one group to the group or groups exchanging information and offers. The parties, expert witnesses and others usually stand away from the barristers during these exchanges and then cluster around them to hear the news, digest the offer and consider a counter offer.
I have seen several days pass almost entirely in the hall outside the court with no case going forward, or going forward only to be deferred - the entire time was taken up with "settlement offers". Such offers may then be ratified in detail between the sets of Barristers and the parties to the case before being written down for formal signing by both parties - up to which time there is no "deal" in place.
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There is a lot going on in any legal action. What I have just described is the outline circumstances of a High Court action. Its easy to be overwhelmed by it all on the day.
You see what I mean about taking professional legal advice? You need competent advice from a good solicitor, not advice at this level from this forum.
You need to be prepared going in to take the witness stand and run through your evidence by someone who is legally qualified and competent.
As before, I invite any legal reading here to rebut, correct or comment on my post.
ONQ.
All advice on AAM is remote from the situation and cannot be relied upon as a defence or support - in and of itself - should legal action be taken.
Competent legal professionals should be asked to advise in Real Life with rights to inspect and issue reports on the matters at hand.