What do you do if a client agrees to settlement and then renegs?

We've all been down the road to hell, where the client agrees to a large settlement and then refuses to execute a release. Obviously the best thing you can do is to put it "on the record" in open Court and to have the client take the stand and agree to it. Unfortunately, thousands of settlements are not concluded in open Court, but over the phone, via email or at mediation. At a mediation, I would definitely have the client sign the mediation agreement. I'm not ashamed to tell you , when I practiced, I carried a blank release [and retainer] in my bag at all times. You can always pen in the information and substitute a nice "typed version" later on.
So here's the scenario. You have the client's verbal consent to settle a case for $ 3 million. Not only do you get the 3 million; but you get a higher offer to settle from the defense counsel of $5 million. Well I know what I would do...hop in a car, taxi or plane if necessary ,and that night have the client sign the release and all closing documents. Letting the client "think about it" is totally unacceptable.
You can also call the assigned Judge's Chambers and ask to be fit in asap to place a sizable settlement on the record. As soon as you hang up with the client immediately send them an email confirming the settlement.(They have to respond affirmatively via email) Then confirm via email that the settlement is being accepted by the client with the carrier or defense counsel ,or both. Have them countersign the writing.
Then , no matter what time of day, get all the closing documents prepared and let the client know you're on the way to their home to have the release[etc.] signed. Once it is signed, federal express the release, stip. of discontinuance and any hold harmless agreements to the defendants to start the clock ticking under CPLR 5003(a). You're now home free...lost in thoughts about your one third fee, referring attorney, taxes, etc.... Ah, bliss!