Island Knowledge - National Expertise

Settlement Agreement Solicitors

Settlement Agreements, formerly known as Compromise Agreements, are sometimes offered by employers when terminating employment.

The basis of a Settlement Agreement is that the employer offers the employee financial compensation or another incentive usually over and above the employer’s contractual entitlement.

The advantage to the employer is that the employee gives up their right to make an employment-related claim against them. The advantage to the employee is that they gain an agreed settlement package that allows them to terminate their employment with sufficient funds and a clean record of employment. Bringing a formal claim against an employer can be time-consuming and expensive. If negotiated properly, a Settlement Agreement is an effective way of ensuring the employee is adequately compensated for their termination of employment.

Employer and employee advice

Glanvilles Damant provides help and advice on Settlement Agreements to employers and employees at all levels of seniority. For the employer, we can advise on the entire process – from the dismissal procedure through to the negotiations and final Settlement Agreement.

For the employee, expert legal advice should be taken as soon as a Settlement Agreement is offered. Glanvilles Damant can advise on any claims you may have and negotiate the best compensation package in the circumstances for you. We will ensure that the agreement is drafted so that it provides you with all the protection you need.

Contact us today for expert advice on your Settlement Agreement - whether you are an employer or an employee we can offer specialist advice.

 

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