Settlement agreements, formerly known as compromise agreements, are legally binding agreements that set out the terms and conditions agreed between parties (normally employer and employee) that waive an individual’s right to make a claim covered by the agreement to an employment tribunal or court.
A settlement agreement confirms the finalised financial settlement agreed to dissolve the working relationship. Every settlement agreement must be tailored to reflect the individual circumstances of the case in question. The settlement agreement will not be legally binding unless the employee in question has taken advice from an independent advisor.
Having a settlement agreement in place protects you from being taken to Court of Tribunal.
We can help and support you through the process of agreeing a settlement and produce the agreement for you.
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