A settlement (or ‘compromise’) agreement is a legally binding contract made between employers and their employees to establish the terms and conditions of ending employment, or to resolve a disagreement which has arisen as a result.
This often involves the employee receiving compensation in exchange for not taking the employer to court of a tribunal. The level of financial compensation you can receive depends on the situation that you have found yourself in, and the final terms which have been agreed to by both yourself and your employer.
We understand how important it is to get the most favourable possible terms for your settlement agreement, as by signing this contract, you will be waiving your rights to make further claims against your employer.
If one party (Employer or Employee) fails to adhere to the terms and conditions of the settlement agreement, further legal action can be pursued against them. This is because the settlement agreement is legally binding, and therefore great caution must be taken to avoid breaching the settlement.
What we can do
At Dylan Nair Ltd, our expert solicitors can help you understand the terms and conditions of your settlement agreement and, when needed, negotiation more favourable terms.
We can offer advice on how to obtain a settlement agreement, and can provide you with support throughout the process.
Our legal advice will ensure that you are able to fully understand exactly what you are signing. We will review the agreement to ensure that your interests have been considered, and your future protected. This includes making sure that you are provided a paid salary, rights to holiday entitlement and other advantages before you have ended your employment.
Fees
There is usually no charge for employees to sign a settlement agreement. The cost is typically covered by the employer, as you are signing away your rights to pursue legal actions against them. We do not usually charge more than their contribution.
Get legal advice and further support
Reaching the end of employment can be a stressful experience, we are qualified to ensure that you do not go through it alone.
Call us on 01772 494366 or fill in our contact form, so that we can effectively serve your interests as soon as possible.