If you are leaving your job, your employer may ask you to sign a Settlement Agreement. You may also hear the term “Compromise Agreement” – Settlement Agreements were previously known as Compromise Agreements under previous rules.
A Settlement Agreement is a legally binding agreement laying out the terms of your departure from your job. You sign away your right to bring an employment tribunal claim and often several other rights (such as the ability to sue for breach of contract) in exchange for an agreed payment from your employer. You can also agree other things, such as the content of any future job reference.
You should usually be given a minimum of 10 days to consider the terms of a Settlement Agreement.
At Backhouse Solicitors, we are experts in employment law and reviewing Settlement Agreements. We will run through the agreement with you, explaining each section in plain English. If we think that you are not receiving the best deal, we will explain this to you, and we can negotiate with your employer on your behalf to seek improved terms. Our fee for this work is normally paid by your employer. Complex agreements sometimes cost more, but we will always ask the employer to increase their contribution, and we will always agree fees with you in advance.
Don’t use any old solicitor and risk missing out on the best possible deal – speak to the specialists. For more information please contact us on 01245 893400 or email [email protected] to speak to one of our expert solicitors.