Agreement in Principle / Heads of Agreement (New Zealand)
SummaryAn Agreement in Principle or Heads of Agreement (AIP/HA) is an agreement entered into between the Crown and a claimant group which is part of the process for the historical settlement of grievances under the Treaty of Waitangi (1840).
Extended DefinitionThe AIP/HA sets out the preliminary elements of a settlement and includes basic details of the historical account of the claim as well as cultural and commercial redress. It may also include a proposed financial quantum of the settlement. The AIP/HA is a public document; it does not legally bind the parties but leads to further negotiation towards a final settlement.