Maine lump sum settlement agreements that are arranged out of court between the parties
and submitted to the WC Board for approval are effective upon execution. Unless either
party can prove there was fraud or mistake of fact, the agreement can only be reopened
to correct a clerical error.
Many of the lump sum settlements involve a structured settlement. For more information
on structured settlements, see DI 52150.065D. Also, pay close attention to the wording in lump sum awards, as a life expectancy rate expressed
in the award might have been calculated based on the net lump sum instead of the gross