What is a Settlement Agreement?

Settlement Agreements or Compromise Agreements are contracts that stop employees bringing claims against their employers. They are essentially a way for employer and employee to ‘part company’ on certain agreed terms. Redundancy is a form of dismissal, usually you will be made redundant or dismissed because the work you did is no longer needed by the employer. This scenario means that you can be legitimately made redundant by your employer.

Why do I need to take legal advice?

It is a legal requirement that in order for the Settlement Agreement or Compromise Agreement to be binding, you must have the agreement explained to you by an independent solicitor. The sooner you take legal advice with regard to your settlement agreement, the better the chance of negotiating a sensible exit package.

Why FMB Solicitors?

Our Employment Solicitors are experienced professionals.  We can advise you on all your options.  Our Solicitors will not only explain the terms and effects of the Settlement Agreement but will also advise you whether the offer is reasonable.  We will explain all your options, including possible amendments, undertake negotiations and if an acceptable agreement can’t be reached, we can advise you and represent you in bringing a claim before an Employment Tribunal.
What documentation do we need to see?

To work on your settlement agreement we need to see the proposed Settlement Agreement or Compromise Agreement, your Contract of Employment and correspondence leading to the offer of the Settlement.
If you provide your employer with our contact details, your employer would usually email or fax the Settlement Agreement and Contract of Employment to us.

Do I need to sign the Settlement Agreement?

If you are not happy with the Settlement Agreement or Compromise Agreement, you do not need to sign it.

You could then proceed to bring your claims before an Employment Tribunal.  Please remember that Settlement Agreements or Compromise Agreements can include tax efficient elements and refusing to sign will jeopardise this.  However, unacceptable Settlement Agreements or Compromise Agreements can often be improved through negotiations.  

Our Solicitors are experienced negotiators as well as legal experts.

Contact FMB Employment Solicitors today

To discuss your employment law issue or to find out more information, please contact the FMB Employment Law Solicitors team today on 01254 274 700 or send us an e-mail to info@fmbsolicitors.co.uk. Alternatively, you can contact us using the form below.

Legal Advice From An Expert?

FMB Solicitors team of lawyers are here to help with all employment law matters. For free no obligation advice give us a call on 01254 274 700 or request a call back.

Head office:

41a Richmond TerraceBlackburn, LancashireBB1 7AW

write an e-mail:

info@fmbsolicitors.co.uk

make a call:

01254 274 700
VAT registration number: 844661413
A list Directors is available upon request
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