A Settlement Agreement is a legally binding contract where you agree not to make certain claims against your employer in an Employment Tribunal or in the County Court, usually in return for you receiving a financial settlement and an agreed reference. Settlement Agreements are increasingly common in voluntary redundancy situations or where someone has a potential claim against their employer.
Settlement Agreements can also be used to avoid a drawn out performance, disciplinary or capability process which can often be costly and time-consuming for you and the employer.
It is compulsory to take independent legal advice before the Agreement becomes legally binding. We are experts in employment law and will advise you on the terms and effect of the Agreement. If necessary, we can negotiate more favourable terms on your behalf.
Your employer will usually pay your legal costs involved in signing the agreement.
Contact one of employment solicitors today to discuss your questions regarding settlement agreements.