A settlement agreement (previously known as a compromise agreement) is a legally binding contract between an employee and an employer which once signed, revokes the employee’s rights to make a claim against the employer – in a court or tribunal. In exchange, the employer promises various payments, usually beyond what the employee is legally entitled to. Settlement agreements can be used to end an employment relationship; settle disputes whilst still employed or to settle claims already issued at the Employment Tribunal.
In order for a settlement agreement to be binding, the terms of the agreement must be in writing, it must relate to a particular complaint/dispute and you must receive advice from a suitably qualified (and insured) Trade Union Official or an otherwise qualified Employment (who is then named within the settlement agreement itself),
We provide a free service to members and non-members in relation to compromise agreements. The service is free to the individual because compromise agreements generally include an employer contribution to the employee’s legal fees. This payment enables the employee to have the settlement agreement reviewed and agreed with a Trade Union Official or Employment Specialist.
If you would like assistance with a settlement agreement, contact out head office on 0844 800 4421 or request a call back (settlement agreement form needed)