You're planning to meet a woman who you met on an online dating site. You've e-mailed each other and decided to meet next Wednesday, but you haven't picked the time or location. You say:
I'll call you next week and we can settle on the time and place.
To "settle on" something means to finally make a decision after considering lots of different choices. You use "settle on ___" to talk about the topic you're deciding:
Have you settled on where you're going for your honeymoon?
Or you can also use it to talk about which one you chose:
We settled on Bali for our honeymoon.
In the U.S., it's common for people to make a general plan to meet people on a certain day or weekend, and then to choose the specifics later.
"Settle on ___" is OK to use in written or spoken English.
"Time and place" is a common group of words to use together. You can also say "place and time".
Use "will" to offer to do something, or when you've just decided to do something like in these situations:
("I'll" is short for "I will", of course.)
When you've been planning to do something for a while, don't use "will". Say "I'm ___" or "I'm going to ___".
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