30/01/2023
What are the benefits of signing a Settlement Agreement?
1. A settlement agreement offers you a clean break from your employment relationship with your employer
2. By resolving disputes under the terms of a Settlement agreement, you save a lot of time and money. The negotiation of terms of a settlement agreement can take days, whereas it would take up to 18 months for your case to be heard in an Employment Tribunal
3. You will receive a compensatory payment from your employer for your loss of employment. There are tax benefits in doing this and some payments can be paid to you free of tax
4. An employer is under no legal obligation to provide an employment reference. It is often the case that terms are agreed including an obligation on the part of the employer to provide a factual reference upon any bona fide request by any future employer
5. You can be rest assured that any dispute which occurred prior to you entering into a settlement agreement with your employer will be kept confidential.
6. Your employer will pay your legal fees for obtaining the compulsory legal advice on the terms of the settlement agreement. So it doesn’t cost you anything.
We are here to help if you are navigating the minefield of a dispute with your employer or a mutual exit from your employment. We will look at what your employer has proposed and advise you if the offer is reasonable or not. We can negotiate terms of a settlement agreement with your employer on your behalf so you are not overwhelmed with the stress of doing that yourself. A settlement agreement only becomes binding on you following mutually agreed terms and advice from one of our employment solicitors.
We are here to listen and help. Contact us today.
