The employment compromise agreement is something that more and more employers are using these days to resolve employment related issues with an employee. Often this means issues relating to termination of employment, whether it is redundancy, dismissal, or notice, although these employment compromise agreements can also relate to other employment related issues.
For the employee there are a number of benefits to signing an employment compromise agreement, the major one being that they can get the matter resolved quickly and with minimal fuss without having to resort to an employment tribunal claim or court action. This is also something that will benefit the employer, which is why more employers are now going down this route to resolve disputes and issues.
However, many employees may be confused over whether they should sign one of these agreements or whether they would be better off taking action themselves and trying a tribunal or court in order to resolve the matter. For those with limited legal knowledge and little or no experience of court action this can be a very big decision and not one that can be taken lightly.
In order to make your UK compromise agreement legally binding the employee has to receive independent legal advice before signing the agreement. Using specialist employment solicitors with plenty of experience of compromise agreements is advisable, as they have a great deal of expertise and experience in this field. Your employer will usually pay all or part of the solicitor fees in order for you to get this advice and make the agreement legally binding.
When you speak to your employment lawyers he or she will be able to go through the details of the agreement, and can then advise you on whether the settlement and terms of the agreement are worth considering or not. Often the solicitor will negotiate with your employer’s solicitor with regards to getting terms changed or improving the settlement if this is deemed necessary. This will help you to make your decision with regards to whether you should sign the agreement or look at alternative means of getting a settlement.
You should bear in mind that these agreements are full and final offers, which means that once you have signed you can take no further action against your employer other than in exceptional circumstances such as breach of the terms by your employer. You therefore need to make sure that you consider your options carefully, which is something that your compromise agreement solicitors can run through with you.
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