Settlement Agreement Solicitors

Settlement Agreement Solicitors

In a Settlement Agreement, also known as a Compromise Agreement in Courts, is a legal contract that can terminate the employment of an employee on agreed terms, usually in exchange for compensation.

Nearly always, the employer will agree to waive any claims he or she may have at an Employment Tribunal or at Court in return for that compensation.  As a result, this is a very serious document and it is important that detailed legal advice is obtained at an early stage.

You need expert legal advice from a Settlement Agreement Solicitor, so he can help you understand the legal process and the terms and conditions.

At O H Parsons, we have a highly knowledgeable team of Settlement Agreement Solicitors, that can guide you throughout the process of a Settlement Agreement.

Why do employers use Settlement Agreements?

Employers opt for Settlement Agreements as they can be used to settle an Employment Tribunal claim before it needs to begin.  Often extra clauses are added into Settlement Agreements, such as keeping the terms confidential and promises as to what can and cannot be said about the employment in the future.

How can OH Parsons help employees with Settlement Agreements?

If your employers draft a Settlement Agreement then our professional Settlement Agreement Lawyers can help you in negotiating terms and conditions, including confidentiality, compensation, other payments, agree references.

Our Employment Solicitors at O H Parsons are tough negotiators and will provide you with a quick and highly efficient service.  We can deal directly with your employers on your behalf, or assist you in the negotiations if you want to carry them out yourself.

Also, if we believe in advising on a Settlement Agreement that the amount that is on offer is not enough, then we can advise you about the prospects of bringing an Employment Tribunal claim.

We have dealt with literally thousands of Settlement Agreements on behalf of employees over the years.

We can often negotiate how much will it cost to deal with a Settlement Agreement.

The amount that it will cost in legal fees to negotiate a Settlement Agreement depends on its complexity.  Often we can negotiate that the employers pay a significant proportion, or sometimes all of our legal fees in dealing with a Settlement Agreement.  We will try and agree a fixed fee with you if possible, or advise you as negotiations go along if the complexities in the negotiation mean that we have to charge you by the hour.  However, we will always be transparent and up-front about any fees that need to be charged.

Is a Settlement Agreement the same as redundancy?

No, these are different things.  Sometimes, an employer will approach an employee during the redundancy process to offer a Settlement Agreement where the employee would voluntarily leave for a sum of money but an employee would not have to agree to this.

Also, if an employer was making a large number of redundancies, they would often call for volunteers and it is very common if individual volunteers for redundancy, that they will be asked to sign a Settlement Agreement.  We as employment law solicitors have a lot of experience of dealing with large voluntary redundancy schemes and advising employees on Settlement Agreements as part of that process.

What happens if you breach a Settlement Agreement?

The answer to this question depends on the exact terms of any Agreement but often, if a Settlement Agreement is breached, the employee will open themselves up to Court action and usually will be sued for the return of any compensation paid under the Settlement Agreement.  We will be able to give you much more detailed advice about the exact terms of the Settlement Agreement and what you are promising when you approach our Settlement Agreement Lawyers.

What are the advantages and disadvantages of a Settlement Agreement?

For an employee, the advantages are often that they can get a lump sum as they leave their employment.  This can often be tax-free and it is usual to be able to negotiate an agreed reference.  Sometimes, it also possible to arrange to leave earlier than an employee’s notice period which may assist, especially, for instance, the employee has another job to go to.

The disadvantages are that the employees are signing away their rights to bring any legal claims against that employer now or often in the future and it is very important that detailed legal advice is taken to make sure the rights that are being given away are not more valuable than the compensation that is being paid. Again, our employment lawyers will be able to assist with that.

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