• What is the difference between a settlement agreement and a compromise agreement?
Other than the terminology used, there is no material difference between a settlement agreement and a compromise agreement. Both are agreements used to waive claims that an employee may have against an employer.
• How much will it cost the company to have a settlement agreement prepared?
We offer competitive hourly rates for such work, and may also be able to agree a fixed fee in advance, depending on the circumstances. Please contact us to obtain further information regarding pricing.
• How long does it take to obtain advice regarding a settlement agreement for an employee??
This depends on the point at which we get involved and the complexity of the situation. We can be involved in advising you from the outset, at the point at which a settlement agreement is offered (which would include drafting and negotiating terms on the company's behalf), or once the terms have been agreed in principle.
• Do I have to come to your office to sign the agreement on behalf of the ocmpany?
We do not usually require you to attend a face to face meeting to sign the agreement, and it is possible to arrange this by way of telephone advice, email and post.
• Can an employee still bring an Employment Tribunal claim against the employer if they sign a settlement agreement?
No. By signing the settlement agreement , the employee will waive their right to bring particular Employment Tribunal claims against their employer. The settlement agreement is usually in full and final settlement of these particular claims. Generally, an employee would be expected to give a warranty that they have no additional claims other than those listed in the agreement.