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Settlement Agreements
What is a Settlement Agreement and what should I expect from one?
A settlement agreement is a legally binding agreement between an employer and an employee in which the individual waives their rights to bring a claim against the employer, often in return for some form of payment. Paladin will advise you on your rights and obligations and ensure you are properly compensated.
Usually a settlement agreement is used to bring to an end your employment, often in return for some compensation (and in an effort by the employer to have certainty that you will not bring a claim against them). The amount you will receive differs vastly depending on the individual circumstances. Often your employer will pay some or all of your legal fees for receiving the required advice. If you have been offered a settlement agreement, or you are looking to negotiate one with your employer, then we can help. Our employment solicitors and lawyers are hugely experienced in employment law and in negotiating settlement agreements. We can ensure that, no matter what the situation, we will get you the best possible deal.
What can we do for you?
We are specialist settlement agreement solicitors and lawyers. We will:
Discuss with you, in detail, the background to the agreement and advise you on the terms.
Make sure that all payments, benefits, commission etc. due to you are correct.
Ensure the settlement sum is structured in the best possible way to take advantage of permitted levels of tax free compensation.
Advise you on any post-termination restrictions and confidentiality provisions.
Wherever possible, negotiate with your employer to increase the amount of compensation you are receiving.
We are totally on your side. We will always be honest with you and tell you if we think a settlement agreement is the best solution for you and if the deal being offered it fair.
To help you understand more about settlement agreements, please read our blog post. Acas also provide some useful guidance here
What if I don’t want to sign away my rights to bring a claim?
Then that is absolutely fine! We will advise you whether the amount of compensation you are being offered for ending your employment is reasonable. If you decide that a settlement agreement is not for you then you do not have to accept the offer. In this case we can advise you on any potential claims, for example relating to unfair dismissal, wrongful dismissal and discrimination.
We have offices in Norwich and Colchester, but we also regularly advise clients living elsewhere in the UK and abroad. So please contact us for a free, no obligation, chat. As specialist settlement agreement solicitors and lawyers, we feel sure we can help you.