Without prejudice privilege protects genuine settlement communications but requires contextual connection and mutual consent for waiver. The document explains that without prejudice privilege is a rule of admissibility protecting communications made in genuine attempts to settle disputes, distinct from legal professional privilege. It requires contextual connection to settlement, can normally be waived only with mutual consent, and is narrower in multi party situations where public policy may limit protection. Mere use of the phrase does not ensure protection; documents unrelated to negotiations or using the words in another sense remain admissible.