Our Solicitors Will Explain The Terms Of Your Settlement Agreement.

A compromise agreement, now known as a “settlement agreement“, is a legally binding negotiated agreement between you and your employer. It usually provides for a severance payment by your employer, in return for which you agree not to pursue any claim you may have to an employment tribunal.

In most settlement agreements, you will be paid up to the termination date as normal. Since these wages are part of your earnings, they will be taxed in the usual way.

There are a number of legal requirements which must be fulfilled to make a settlement agreement binding. 

 One of the requirements is that the employee must receive independent legal advice from a legal professional.

 A settlement agreement can be written in very legalistic language and can refer to statutes and regulations which you may never have heard of. It is important that you understand the effects of the agreement so that you know exactly what you are agreeing to.

We are experienced in providing specialist, independent legal advice in relation to settlement agreements and will ensure that you receive relevant and accurate advice.

 In most cases your employer will pay your legal fees for advice on the terms and effect of the settlement agreement. If you choose to negotiate additional cost may occur, in this instance these would need to be covered by you.