Consent Orders and Binding Financial Agreements are both ways of settling property and financial matters between parties in a family law dispute. Consent Orders are approved by the court and are more final, while BFAs are private agreements between parties that are not approved by the court and are more flexible. For Consent Orders, the parties must file an application with the court and provide full financial disclosure. The court will then consider the orders and, if they are satisfied that they are fair and reasonable, approve them. For BFAs, parties must obtain independent legal advice and sign the agreement in the presence of their legal practitioner.