Currently we can only offer services to advice and assist in relation to Settlement Agreements.
A settlement agreement (previously known as a compromise agreement) is a legally binding document made between an employer and employee on the termination of employment. It can be used in a variety of situations including redundancy, resignation, or dismissal for conduct/capability reasons, however often it is used when the parties have a dispute.
The agreement serves to draw a line under the employee’s employment, thus enabling the employer to swiftly remove the employee from the business, without the risk of facing a tribunal claim. In return for agreeing to enter into the compromise agreement, and thus waiving all rights to pursue any claims that the employee may have against the employer/under all the prevailing employment laws the employee receives a financial settlement.
The agreement must satisfy several conditions for it to be legally binding; namely, it must be in writing; it must relate to a particular complaint and the employee must have received independent legal advice about its content. The employer often contributes towards the employee’s legal fees in taking that advice and that normally covers the total fees which means the employee does not have to pay anything at all.