A settlement agreement is a legally binding document between an employer and an employee in which an employee agrees to not pursue an existing or potential employment claim against an employer in exchange for a financial settlement.
Any other agreement other than a settlement agreement will not be legally binding and therefore will not prevent an employee from bringing a claim. For a settlement agreement to be valid, it is vital that an employee seeks independent legal advice before entering into the agreement. Our role essentially is to give you advice, inform you of any potential claims and the value of these claims, and help you in deciding whether entering into a settlement agreement is the best course of action for you.
We will negotiate terms on your behalf with a view to securing the maximum financial settlement taking into consideration your length of employment, salary and the circumstances in which your employment is being terminated. The settlement agreement will therefore be tailored to suit the individual circumstances of each employee.
In the majority of instances the cost of legal advice required in respect of a settlement agreement will be covered by the employer. As a result, it is likely that as an employee, our advice will not cost you a penny.
If you have been invited to enter in to a settlement agreement by your employer or if you simply want more information, please contact our employment solicitors on 0800 644 1544 for a free initial consultation.
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