Helping you to secure the best possible outcome from your settlement agreement when based in Guildford
- The purpose of a settlement agreement is to end the employment contract of an employee on a specific set of terms. It usually involves offering the employee a sum of money in return for them agreeing to waive certain employment rights.
- As settlement agreements usually require the employee to waive some of their legal rights, they must take independent legal advice before signing the document to ensure they understand the full implications of this.
- Our settlement agreements team in Guildford can offer expert advice to help you make an informed decision and secure the best possible outcome from the offer made by your employer.
Settlement agreements (previously known as compromise agreements) are often used by employers who wish to end a specific employment contract with an employee but want to do so on a set of terms that protect the business in the future. It might be the case that there is an ongoing dispute between the employer and employee, and a settlement agreement is one way to resolve this and part ways on a basis that both parties are happy with.
You don’t have to sign the settlement agreement if you are not happy with the terms included or the sum of money that is being offered, but you must take legal advice before making your decision as there can be significant consequences if you’re not fully aware of the implications for any rights you might be signing away. Our Guildford settlement agreement solicitors can ensure that you receive advice that is tailored to your specific circumstances.
If you don’t think that the settlement agreement offered is fair, our Guildford-based employment law solicitors can attempt to negotiate with your employer on your behalf, to help secure the best possible deal for you.
What if the settlement agreement is breached?
A settlement agreement is a legally binding document, so both parties must keep to the agreed terms, or face potential consequences that can be serious.
If the employer breaks their side of the agreement, for example, by not paying you the full sum specified, then you might be able to make a claim against them. In the same way, if you breach any of the terms, they can potentially claim against you, and you might have to repay all of the money that you received as part of the agreement. Understanding exactly what you can and cannot do in order not to breach the agreement is essential, and our settlement agreement solicitors in Guildford will make sure that you understand all of this before you sign.
Getting the best possible deal from your settlement agreement in Guildford
It can sometimes be difficult to know if the settlement agreement being offered to you is a good deal or not, especially if you have never been involved with one before. Our experienced employment solicitors, based in our Guildford office, can offer advice that is tailored to your specific circumstances and take into account all of the factors and events during this period of employment that have led up to the settlement agreement being offered.
The sum of money offered in the agreement will need to be weighed up against the rights that you will be waiving if you are to sign it and also against any potential legal action that you could potentially take if you were to choose to reject the settlement agreement and make an employment tribunal claim instead. Our employment law team in Guildford have the expertise needed to support you in making the right choice for your life and future.
In addition to our team of experienced employment law specialists in Guildford, we also have offices in London, Richmond, Lymington, Southampton and Woking. Get in touch today to find out how we can help you with a settlement agreement or any other aspect of employment law.