Settlement Agreement Solicitors in Leeds
Settlement Agreement Solicitors
Settlement agreements, also known as compromise agreements, are voluntary agreements that may help you to amicably exit a business or resolve a dispute with your employer. It is a legal requirement to take independent legal advice before you sign your settlement agreement, so let our expert solicitors support you today.
More About Settlement Agreements
A settlement agreement is a document that details the terms under which employer and employee part ways. The settlement agreement is legally binding and typically includes a severance package the employee accepts in return for abandoning the employment contract they were working under. In the settlement agreement, the employee also agrees they will not bring future claims against the employer and that they will not disclose the terms of the agreement to anyone else.
If you have been offered a settlement agreement by your employer you are required to have a solicitor review the agreement before signing it. This is for your own protection to ensure the agreement does not include any legal sleight-of-hand or omissions that could undermine your interests. Our settlement agreement solicitors in Leeds are here to ensure the agreement you have been offered is worthy of your signature.
Why Settlement Agreements are Popular
Although there are a number of scenarios that might prompt their use, settlement agreements most commonly come into play in cases where a dispute arises between employer and employee. Such cases often end up being adjudicated by the Employment Tribunal, a process that can be long and convoluted and whose outcome is never certain.
The settlement agreement prevents a dispute from lingering and potentially causing damage to the employer’s public image. It also ensures the employee receives a level of compensation they are satisfied with.
Settlement Agreement Vs Redundancy
In many cases a settlement agreement will cost an employer more than redundancy would, so they typically refrain from taking the settlement agreement route unless there is a compelling reason to do so. Such reasons include wanting to terminate the employee quickly, and wanting to avoid potential bad press generated by an adverse Employment Tribunal decision.
Why You Need Expert Settlement Agreement Solicitors in Leeds
The settlement agreement can be a useful vehicle for achieving an end result both employer and employee can live with. To ensure that is the final outcome it is vital you have your settlement agreement reviewed by expert settlement agreement solicitors. In Leeds that means Frederick Solicitors.