British Prince Andrew, who is facing a civil lawsuit over allegations of abuse, has reached an agreement in principle with US plaintiff Virginia Giuffre on a settlement.

"Virginia Giuffre and Prince Andrew have reached an out-of-court settlement," said a Tuesday court document available to the German Press Agency.

Giuffre accuses the second eldest son of Queen Elizabeth II of having repeatedly sexually abused her as a minor a good 20 years ago.

She was forced to do so by US businessman Jeffrey Epstein and his ex-partner Ghislaine Maxwell.

Andrew strictly rejects the allegations.

The amount Prince Andrew will pay to the plaintiff has not been disclosed.

Giuffre's charity that supports victims of violence will also support Andrew.

In a letter to New York judge Lewis Kaplan on Tuesday, both parties to the conflict announced that they would request a stay of the trial.

Experts had previously disagreed as to whether the prince would agree to a deal because it could look like an admission of guilt to the outside world.

Recently it was said that Prince Andrew is facing the trial and is to testify under oath before Giuffre's lawyers at a "neutral venue" in London on March 10.

Giuffre was also asked to testify under oath.

However, there was great concern in royal circles that the scandal could overshadow the celebrations for the 70th anniversary of Queen Elizabeth II (95).

A trial in New York would probably have taken place in the fall and attracted huge media attention.

The palace has already stripped the Queen's second son of all military ranks and patronage.