Settlement Agreements As Employer

Settlement agreement, formerly known as a compromise agreement, is a legally binding contract used by employers to set out terms and conditions agreed upon by an employee to end an employment relationship or resolve a dispute. They usually involve an employee receiving payment in return for giving up their rights to bring about an employment rights claim against the employer.

Settlement Agreement relinquishes the right of an employee of filing a claim against an employer at an employment tribunal or court, and it usually involves payment. If you are considering drafting a settlement agreement as an employer, then it is important for you to seek expert advice from an experienced employment solicitor to ensure that it meets your best interests.

Settlement Agreement is usually offered by an employer in the following circumstances outlined below:

  • When both parties agree on a deal, in a situation where an employment tribunal is looming.
  • When an employee is made redundant, and the employer wants to play safe by ensuring that the employee is not going to file a claim.
  • When the employer decides that they do not wish to work with an employee without a fair reason, and do not wish to follow the normal employment law procedures for dismissing an employee.
What are the conditions that make a settlement agreement legally binding?
  • It must be linked to proceedings or grievances.
  • The agreement must be written
  • The employee must have taken the advice of an employee solicitor or another independent adviser
  • The independent must be protected by a current insurance policy or professional guarantee
  • The name of the solicitor or independent adviser must reflect in the agreement
  • The agreement must meet the applicable regulatory conditions.
Why Hire Us?

We will not only advise you how to make fair and appropriate terms; If you are an employer who requires legal assistance with regards to drafting a settlement agreement, we are here to help.

We put in lots of hard work to ensure that our client’s best interests are met. The combination of our experience in handling settlement agreements and our approach to legal situations helps our clients make the right choice. We are valued for our high level of service and the efficiency invested in the delivery of advice in situations that are time sensitive.

With Privilege Solicitors, you are with the most skilled and capable, especially when it comes to Settlement agreements. Contact us TODAY to schedule a confidential consultation. 

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