What is a Settlement Agreement?
- A Settlement Agreement (formerly known as a Compromise Agreement) is an agreement between you and your employer, which seeks to settle any claims that you may have.
- You may receive it during or at the end of a redundancy process, disciplinary process or grievance process.
- It usually provides for a payment by the employer in return for your agreement not to pursue any claims against your employer in a Tribunal or a Court.
- The employer will usually require you to keep the terms confidential, for example the amount and the circumstances relating to the termination of employment.
- In order for the agreement to be binding a number of conditions will need to be satisfied including seeking independent legal advice.
This is where we can help.