Receiving a settlement agreement (formerly known as a compromise agreement) can be a daunting experience and one that may come as a complete surprise for many individuals. The BPE Employment Team are here to assist you in respect of all of the numerous ingredients within a settlement agreement and will always very carefully take your detailed instructions and then explain to you all of the options available to you.
In addition to that, we will assess the offer made and advise you in respect of the optimum way forward, in terms of any re-negotiation of the headline commercial terms and/or in respect of ensuring that the departing employee’s on-going rights are protected and/or not prejudiced, in any way. The employer will have protected their position in the Settlement Agreement. We see it as our fundamental obligation to protect our clients’ position.
A Settlement Agreement is a legally binding contract between an employee and an employer. At its simplest, a Settlement Agreement is often used as a device to bring the employment relationship to an end, in return for a financial payment to an employee.
As part of the process, your employer will require you to “give up” many of your contractual and statutory rights, such as any claims for unfair dismissal and/or discrimination that you may have against that business or organisation.
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