A settlement agreement / compromise agreement is a legally binding contract made between employers and their employees to establish the terms and conditions of ending your employment or can be used as a solution to resolve a disagreement.

This commonly involves the employee receiving compensation for not taking the employer to court or tribunal, the financial compensation can be based on the situation you are in.

SHOULD I SIGN A SETTLEMENT/COMPROMISE AGREEMENT? 

To sign a settlement agreement / compromise agreement, you should obtain legal advice to consider the terms and conditions.  By signing this contract, you are giving away your rights to make further claims against your employer, so it is important to know exactly what you are agreeing to.

Our expert team at Dylan Nair can help you understand the terms and conditions and when needed, negotiate more favourable terms.

HOW MUCH CAN YOU GET FROM A SETTLEMENT/COMPROMISE AGREEMENT?

Due to the uniqueness of every case, each settlement amount is different. But the settlement received is based on the financial state you are in and to what extent the breech of contract effects the employer / employee.

ARE SETTLEMENT/COMPROMISE AGREEMENT COMPULSORY TO SIGN? 

No. You have the right to negotiate the terms if you don’t agree with what your employer offers.

Some of the main negotiation points are:

– The amount of compensation being offered

– If the agreement affects your ability to get a new job when you leave your current workplace.

Our solicitors are trained in negotiating and guaranteeing the best settlement amount available for you.

WHAT HAPPENS AFTER YOU’VE READ THE TERMS OF THE SETTLEMENT/COMPROMISE AGREEMENT AND ARE HAPPY WITH THEM? 

Once you’re happy with the terms and conditions being offered, legal advice is usually advised, this to allows you to fully understand what you’re signing to avoid confusion and it shows you your options. We will review the agreement to make sure it’s reasonable and that your interests have been considered to protect your future, this includes making sure you get a paid salary, rights to holiday entitlement and other advantages from the contract before ending employment.

HOW MUCH DO SETTLEMENT/COMPROMISE AGREEMENTS COST? 

There is usually no charge for employees to sign a settlement agreement / compromise agreement, the cost is usually covered by the employer as you are signing away your rights to pursue legal actions against them. We do not charge more than their contribution.

WHAT HAPPENS IF THE EMPLOYER O EMPLOYEE BREACHES THE SETTLEMENT/COMPROMISE AGREEMENT? 

Failing to adhere to the terms and conditions of the settlement agreement can lead to pursuing court action as it is a legal document and so a claim for breach of contract can be brought. The ways in which the settlement can be breached are numerous.

Why wait, get a settlement/comprise agreement today.

If you wish to get a settlement agreement / compromise agreement, contact Dylan Nair Solicitors today and we will give you as much advice as you need, helping you through this process.

Call us on 01772 494366 or fill in our contact form.