Losing your job can be a difficult and worrying time for you and your family, therefore you don’t need any added complications such as being asked to sign a Settlement Agreement (previously known as a Compromise Agreement) by your employer which you don’t fully understand or know what implications this may have for you in the future.
The main effect of signing a Settlement Agreement is that you give up the right to bring claims against your employer in relation to your dismissal as well as any other money they may owe you.
For example, employers will often offer a financial settlement in exchange for signing a Settlement Agreement which means that you will not sue them in the future.
Obtaining legal advice is crucial before entering into such an Agreement especially if you have any pending claims against your employer. You need to make sure that you understand the effects of the Agreement and that these do not disadvantage you.
Settlement Agreement Advice
Our specialist employment lawyers will talk you through the Agreement explaining fully what has been set out by your employer and what this means to you. Our solicitors will provide independent legal advice and negotiate the best Settlement Agreement for you ensuring any ongoing claims against your employer are reflected in your Agreement.
Signing your Agreement
The law requires that an independent adviser, usually a solicitor, must advise on the effect of a Settlement Agreement. Once we have provided you with advice we are required to sign the Agreement to certify that we have provided appropriate advice on the effect of the Agreement before this will be binding.
Our fee with regards to providing advice and signing your Settlement Agreement is usually the responsibility of your employer, therefore no charge would be made to you for this service.
Why Thompons?
Our solicitors know there is no room for compromise when you need legal advice. We always put our clients first ensuring we negotiate the best possible Agreement.
Talk to our lawyers today on 0800 0891 331 or fill out the online form.
You should be aware that if you decide not to enter the Settlement Agreement and you want to bring a claim against your employer there are important time limits and you should contact us as soon as possible.
