Settlement Agreements



If you have agreed with your employer that your employment will end, perhaps because of redundancy or work related difficulties, you may be asked to sign a Settlement Agreement.

A Settlement Agreement will generally offer you a sum of money as a compensation payment and by accepting the terms of the Settlement Agreement and the compensation you will waive your rights to pursue any employment related claim to an employment tribunal.

When a Settlement
Agreement is signed by all parties it becomes legally binding and for this reason it is a term of the agreement that you must receive independent legal advice before signing the document.

At
Emplex we will go through the events which led up to the offer of the Settlement Agreement, advise you on any potential claim you may have and discuss with you whether the sum of money which is offered as compensation in the Agreement adequately compensates you for waiving your rights to pursue any potential claim.

We will then go through the document itself. It is unusual to have an agreement that does not need some amending, so if you have a Settlement Agreement that isn’t quite right, do not worry, changes can be made.

The costs relating to Settlement Agreements will depend upon how much time is spent on any negotiation and amendments that may be necessary. This can range from ten minutes to several weeks. However, in most cases the cost of legal advice will be partially or fully met by your employer.

For further advice please contact
Emplex
 on 01753 583 222 or
E-mail: info @emplexlaw.com


 


Sign up for future employment law updates


Emplex Employment Law Consultants Ltd registered in England & Wales co number 5263453
© Copyright. 2012. Emplex Employment Lawyers All Rights Reserved. | Sitemap| XML Sitemap