Meaby & Co – Settlement Agreement Solicitors
What is a Settlement Agreement and when might one be used?
If the relationship between an employee and an employer has broken down, one way to manage the situation is for both sides to negotiate an exit. Such negotiations usually include the use of a Settlement Agreement. Settlement Agreements were formerly known as compromise agreements.
I have been given a Settlement Agreement, what should I do?
If you have been given a Settlement Agreement by your employer you must seek legal advice before you sign it. The legal advice must be independent and we always advise you see a qualified solicitor who can advise you as to the terms and effect of signing a settlement agreement.
How Can I use a Settlement Agreement to resolve an employment issue?
As an employer if you are considering using a Settlement Agreement to resolve an employment issue or to bring to an end an employees term of employment you must make certain that the agreement is properly drafted. Either way the team of employment lawyers at Meaby & Co is able to advise and guide you through the process.
Is a Settlement Agreement legally binding?
The Settlement Agreement, once signed, becomes a legally binding agreement; in effect it is a contract between the parties. The employee receives compensation (which may be tax free, depending on the value) and in return agrees not to pursue a claim (whether one exists or not), against the employer, in the Employment Tribunal and the Civil Courts.
At Meaby & Co we have advised on hundreds of Settlement Agreements. We provide advice to employees and employers and always cut through the jargon and explain your options in simple English.
Have you been given a Settlement Agreement? or Are you considering providing one to an employee?
For further information about how to respond to a Settlement Agreement or what you need to do if you are considering providing one to an employee please contact us to discuss the situation. You can call us on 020 7703 5034 or email us at email@example.com or use the contact form below.
Got a question? We’ve put together a frequently asked questions guide which you can download here.