Settlement Agreement – What next?

Settlement Agreement – What next?

Your Settlement Agreement

For some, the receipt of a Settlement Agreement and financial proposal is a welcome relief, for others an unexpected shock.

Either way we fully appreciate that what might be a standard document for solicitors and HR, could be life changing and stressful for you. You want support and full understanding of what you are agreeing to.

We won’t simply take you through the document and its terms.  We will seek to understand the circumstances to ensure that the document’s terms, and the settlement proposal, is reasonable in your circumstances.

If you want to read about some of our client’s positive experiences, here is the link.

The basics of a Settlement Agreement

Settlement Agreements (formerly known as a compromise agreement) are essentially a contract setting out the terms of your leaving, whilst signing away most of your employment rights. It is for this important reason that there is a legal requirement to seek professional advice (such as from a qualified employment solicitor).

The requirements of this advice must include:

  • the terms and effect of the proposed agreement; and
  • its effect on your ability to pursue any rights before an employment tribunal.

However, this isn’t usually a paperwork exercise, it needs proper care and consideration. Having said that, it is also a document we are incredibly familiar with, which means we can reassure you quite quickly if something is customary or unfair.

Beyond the reasonableness of the Settlement Agreement ex-gratia payment, we also look at any impact of the terms of the Agreement, or your Contract, on your future employment.

The advice can be FREE to you. Your employer should pay a contribution towards your legal fees. To allow us to reassure you as to the cost of our working together, it is helpful if you have that information to hand when you call us to make your appointment. We can usually work within the contribution offered.

If you want more detail of the contents of a Settlement Agreement and what to expect please see here.

We look forward to supporting and advising you on your exit, and the terms of your Settlement Agreement.

If you have any questions please free to contact Simona Hamblet direct on 01483 670177 or email her on simona@shlaw.co.uk .

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