Have you been given a settlement agreement from your employer?
If so, you will need independent legal advice about the terms and effects of the agreement.
Our Bristol employment law solicitors have many years of settlement agreement experience.
You may need to act quickly and not delay in getting advice. Our solicitors have offices throughout Bristol where you can meet our employment law solicitors at a time that’s convenient to you.
What is a Settlement Agreement?
Settlement agreements bring an employment relationship to an end.
The agreement will resolve most workplace problems. Employee or employer can suggest a settlement to end the working relationship. It’s agreed mutually by employer and employee.
The agreement will also settle any potential employment tribunal claim or any court proceedings.
Settlement agreements were previously known as ‘compromise agreements’.
Why Do You Need A Settlement Agreement?
You could get a settlement agreement as part of a redundancy situation, or as a result of a relationship breakdown between employer and employee.
An agreement could bring an end to a workplace dispute between employer and employee.
Or bring your employment to an end without a final dismissal. This could often follow a grievance or disciplinary proceedings.
Top 8 Facts About Your Settlement Agreement
- The agreement must be entered into voluntarily and include terms that have been agreed between you and your employer.
- With a settlement agreement you will leave your employment on mutual terms and in most cases benefit from a lump sum payment.
- A settlement agreement is a legally binding document.
- You will normally be offered some form of financial payment compensation as part of the settlement.
- The agreement will also likely waive your rights to bring a claim in an employment tribunal or court.
- The settlement payment is often negotiated between employer and employee. But we regularly help when we see reasons for an enhanced settlement payment.
- It is standard in settlement agreements to take your own independent advice.
- Your employer will either pay for your legal fees or make a contribution.
Do you wish to terminate employment with a settlement agreement?
If you have a settlement agreement we are experts in this field and able to advise you before you enter into the agreement.
Settlement agreements are complex legal documents. It’s not been possible to cover every aspect of a settlement agreement here, but if you have a question please get in touch.