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A Settlement Agreement is an agreement prescribed by statute to bring to an end statutory claims (ie unfair dismissal or discrimination) arising out of your employment or termination of employment. In short, you have to go off and get independent legal advice before signing away your legal rights.
The employment solicitor should advise the employee on any potential claims arising so that the employee fully understands the legal issues, and the value of any potential claims, before signing away their rights.
The employment lawyer who provides the advice must have a form of professional indemnity insurance in place.
The advantage to the employer of getting a compromise agreement is that the employer can be sure the employee will not simply take the money and then sue. The advantage to the employee is that s/he is full advised before settling.
Reculver Solicitors, based in Central London and Online, giving specialist legal advice on Settlement Agreements
As specialist employment solicitors, we have advised scores of employees and helped them to get the best possible settlement. If you instruct us, our employment lawyers will:
- Advise you on whether any claims arise on the termination of employment.
- If so, advise you what those claims might be worth.
- In the light of that information, advise you whether the sum offered is reasonable in the circumstances.
- Explain the meaning and effect of the agreement to you and advise you whether anything needs to be amended or changed.
- Negotiate on your behalf as required.
The cost of advice will often be covered by the employer, meaning that you may not have to pay anything for this advice personally. Call us today on 0207 118 0950 to discuss this further.
Common Questions regarding Settlement Agreements
- What is a Settlement Agreement and why should I sign one?
- Why do I need to see an employment solicitor before signing a Settlement Agreement?
- Do I have to pay to get advice on a Settlement Agreement?
- Should I accept the Settlement Agreement or ask for more money?
- Can payments made under a Settlement Agreement be paid free of tax?
- Can I get an agreed reference as part of the Settlement Agreement?
- Should I reject the Settlement Agreement Offer and bring a claim in the Employment Tribunal?
- What are common clauses in a Settlement Agreement?
- Are there any claims I can bring even if I sign the Settlement Agreement?