In the last few months we have seen an increase amount of new and returning clients visiting us for advice on the terms and effect of a Settlement Agreement that has been prepared by their Employer. A Settlement Agreement is a legally binding contract whereby employees waiver their rights to make a claim in the Employment Tribunal or Court. The agreements are entered into voluntarily, often involve some form of payment to the employee and can be offered by the employer at any stage of the employment relationship.
To be legally binding the employee must obtain independent legal advice from a lawyer or a certified trade union representative who has a contract of professional indemnity insurance. Our solicitors meticulously read through every Settlement Agreement and explain to clients in clear terms exactly what the terms of the agreement mean and whether any amendments should be made.
We act for the best interests of our clients and so often we have assisted clients obtain and negotiate more favourable settlements than what their employers originally offer them. Recently we advised and negotiated a settlement sum for a client that was over four times the amount originally offered to him by his employer. It certainly can pay to know your employment legal rights and to obtain advice from one of our experienced members of our team.