Settlement Agreements are legally binding agreements that set out the full terms of a settlement between an employer and an employee, usually at the point of termination of employment. Previously known as Compromise Agreements, Settlement Agreements can be used where an employee is being made redundant, both on a voluntary and compulsory basis or where an employer thinks an employee is performing badly in their job or is guilty of misconduct.
Employees receive a sum of money in return for losing their job and giving up certain employment rights, such as bringing a claim against the employer. The benefit to an employer is that the Settlement Agreement gives the certainty of knowing there will be no dispute or claim afterwards.
Once an employee has signed a Settlement Agreement, there is no going back, which is why the legislation insists that they take independent legal advice on the terms and the effects of the Settlement Agreement.
It is customary for the employer to pay for the legal fees or at least make a significant contribution.
Free initial consultation
If you find yourself as an employee in this situation, our specialist Employment Law team can be on hand to offer expert legal advice and to negotiate your Settlement Agreements.
We will talk to you about our fees prior to starting any work and typically we undertake work in this area on an agreed fixed fee.
On most occasions we can provide you with a free initial consultation please contact us to see how we can help. Our advice will depend on your circumstances, and if you would like us to advise on a situation for which you can provide information and evidence, there will be a charge. Contact us to arrange an initial consultation.
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