Get reduced settlement (8)
I believe the answer is:
contract
This clue is a double definition.
'get reduced' is the first definition.
(to contract is to shrink or become reduced)
'settlement' is the second definition.
(I've seen this before)
(Other definitions for contract that I've seen before include "Shorten" , "Agree - get smaller" , "Agreement - lessen" , "Shrink in legal agreement?" , "type of bridge" .)