Is the voluntary compensation agreement valid?

If it is a civil dispute, our country's law stipulates that both parties can reach an agreement voluntarily, and the content of the agreement shall not violate the law, but should reflect the true meaning of both parties. Such an agreement is protected by law. After the parties reach a compensation agreement, if the compensation obligor refuses to perform it, or there is no dispute about the facts of the accident, but no agreement can be reached on the amount of compensation, the compensation obligee may bring a civil lawsuit to the people's court where the compensation obligor resides with the agreement. Article 470 of the Civil Code of People's Republic of China (PRC) The main clauses and model text of the contract are agreed by the parties, which generally include the following clauses: (1) the name and domicile of the parties; (2) Subject matter; (3) quantity; (4) quality; (5) Price or remuneration; (6) Time limit, place and method of performance; (7) Liability for breach of contract; (8) Methods for resolving disputes. The parties may conclude a contract by referring to the model texts of various contracts.