This page gives you an overview of our employment settlement agreement services for businesses. If you're an individual looking for professional advice on employment law, please visit our for you page.
Settlement agreement solicitors for employers
Formerly known as compromise agreements, settlement agreements are confidential legal documents that are shared between employers and employees before or after termination of an employment.
Since the agreement is legally binding, it is important that the agreement is drafted by employment law experts. This will prevent the employee from bringing any claims against the employer once the agreement is signed.
Advantages of using a settlement agreement
- It can be a quick and efficient way of ending an eployment and settling any potential dispute
- If properly written, the settlement agreement prevents the employee from seeking further claims against their past employer
- A mutually beneficial settlement dispenses with the need to go to an Employment Tribunal of Civil Court.
Disadvantages of using a settlement agreement
- It costs the employer time and money to draft an agreement, consider the terms, offer a legal fee contribution and pay compensation
- It can damage the employee relationship if settlement is not agreed
- It can have a negative impact on employee relations if exiting under an agreement becomes customary or is used instead of good management practice.
If we need to make changes to the settlement agreement, we can negotiate with the other side on your behalf.
For further information please contact one of the team.