Compromise Agreements| Employment law| Goddard Smith Solicitors
Posted 11th November 2008 at 21:19 by Goddard Smith Solicitors
What is a Compromise Agreement?
A Compromise Agreement is a legally binding agreement that represents the termination of your employment contract. Goddard Smith Solicitors have seenCompromise agreements used in a number of different situations such as redundancy, mutual agreement, dismissal, or to settle an Employment Tribunal claim without the need for a hearing.
Compromise agreements are recognised by statute and are the only way a claim can be validly resolved without tribunal proceedings having been initiated.
The compromise agreement usually provides for a severance payment and/or payment in lieu in relation to your notice period. In return you, as the employee, agree to waiver your rights to pursue any claims you may have against your employer in an employment tribunal.
Employers are now increasingly using compromise agreements as a preventative tool to safeguard themselves against future employment complaints to tribunals, especially in redundancy situations. A compromise agreement must be explained by an independent solicitor such as Goddard Smith Solicitors before the agreement becomes binding. Further the compromise agreement must be signed to certify that the appropriate advice has been given.
Goddard Smith Solicitors can provide you with a strong employment law team that has had experience in dealing with all employment related matters. Each claim is individual and we will strive to provide you with the advice that is relevant to your needs and to bring about the solution that you desire.
For more information relating to employment law, please feel free to visit the ACAS website at http://www.acas.org.uk which provides impartial advice relating to employment matters or alternatively if you would like specific advice relating to your case please feel free to call us on 0800 160 1144 or email us at enquiries@goddardsmith.co.uk.
Goddard Smith Solicitors
http://www.goddardsmith.co.uk
A Compromise Agreement is a legally binding agreement that represents the termination of your employment contract. Goddard Smith Solicitors have seenCompromise agreements used in a number of different situations such as redundancy, mutual agreement, dismissal, or to settle an Employment Tribunal claim without the need for a hearing.
Compromise agreements are recognised by statute and are the only way a claim can be validly resolved without tribunal proceedings having been initiated.
The compromise agreement usually provides for a severance payment and/or payment in lieu in relation to your notice period. In return you, as the employee, agree to waiver your rights to pursue any claims you may have against your employer in an employment tribunal.
Employers are now increasingly using compromise agreements as a preventative tool to safeguard themselves against future employment complaints to tribunals, especially in redundancy situations. A compromise agreement must be explained by an independent solicitor such as Goddard Smith Solicitors before the agreement becomes binding. Further the compromise agreement must be signed to certify that the appropriate advice has been given.
Goddard Smith Solicitors can provide you with a strong employment law team that has had experience in dealing with all employment related matters. Each claim is individual and we will strive to provide you with the advice that is relevant to your needs and to bring about the solution that you desire.
For more information relating to employment law, please feel free to visit the ACAS website at http://www.acas.org.uk which provides impartial advice relating to employment matters or alternatively if you would like specific advice relating to your case please feel free to call us on 0800 160 1144 or email us at enquiries@goddardsmith.co.uk.
Goddard Smith Solicitors
http://www.goddardsmith.co.uk
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