Does the traffic accident settlement agreement have legal effect?

First, whether the traffic accident settlement agreement has legal effect.

1. The traffic accident handling agreement has legal effect, and both parties shall perform their respective responsibilities according to the contents of the agreement. If the parties still fail to perform after reaching an agreement through consultation, they may apply to the People's Mediation Committee for mediation or bring a civil lawsuit to the People's Court.

2. Legal basis: Article 74 of the Road Traffic Safety Law of the People's Republic of China

In the event of a dispute in traffic accident compensation, the parties may request the traffic administrative department of the public security organ for mediation, or they may directly bring a civil lawsuit to the people's court.

After mediation by the traffic administrative department of the public security organ, if the parties fail to reach an agreement or fail to perform the mediation after it takes effect, the parties may bring a civil lawsuit to the people's court.

Second, what is the compensation standard for traffic accidents?

1. If the actor causes personal injury to the victim, he shall be liable for compensation according to law. The contents of the claim include: medical expenses, hospitalization expenses, meals, lost time, etc. If the victim is seriously injured or disabled, he may also claim compensation for disability compensation, follow-up rehabilitation nursing and treatment expenses.

2. If the perpetrator caused a traffic accident and the victim died, the infringer shall compensate the corresponding funeral expenses, death compensation and mental damage compensation expenses of the victim's relatives in addition to the relevant expenses of rescue.

3. The victim can negotiate with the infringer to agree on the corresponding compensation fee, or request the traffic police department or the mediation committee to intervene in mediation. If mediation fails, the victim may bring a lawsuit to the people's court according to law.