A settlement agreement is a legal document which sets out the detail of an agreement between an employee and employer. Most often, this covers a termination package where an employer buys a departing employee’s legal rights in return for an agreed sum of money.
Ensuring that you receive the sum you deserve is critical when dealing with a settlement agreement.
When compiling a settlement agreement you have to, by law, receive independent legal advice as to the sum of money being offered and terms as set out in the agreement. As an adviser, it is our job to identify claims you may have, compare such claims against the offer made and ensure you understand the agreement you are being asked to sign.
If we advise that the sum of money is not sufficient to justify your acceptance, we will advise you as to your options and, most likely, enter into further negotiations with your employer.
As an employer requires you to sign the settlement agreement to make the agreement legally binding, they should contribute towards the cost of the legal advice. If the settlement agreement is straightforward then we will always try and work within the employer’s contribution.
We take the advice we provide on settlement agreements very seriously. It is very important that the deal is as good as it can be before you sign your settlement agreement.
Settlement agreements are a particular specialism of this firm. We can meet in person, or carry out the process by telephone, beginning the process from the comfort of your own home. There is no job which we would consider too big or small for The Employment Solicitor.
If you have been offered a settlement agreement contact us and we will provide all the support you need.