Settlement agreement advice for businesses

A settlement agreement is an agreement that brings to an end claims such as, claims for unfair dismissal or discrimination arising out of the employee’s employment or termination, other forms of simple agreements signed by the employer will not prevent the ex-employee from bringing a claim. Settlement agreements tend to be more extensive in terms of listing out possible claims.

It is important to note that settlement agreement should only be used in circumstances where there are potential claims to be resolved and where there is a genuine dispute in place between the parties. It is not sufficient enough to rely upon any written or oral agreement between you and the employee as this will not rule out the possibility of ex-employees bringing claims at a later stage. If executed properly however, the use of a settlement agreement is most useful as it will remove the risk entirely of any claims being brought at a later stage by an ex-employee.

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How we can assist businesses with settlement agreements?

  • As specialist employment solicitors we will ensure that you will reduce as far as possible the risk of any claims being brought against you
  • Our employment solicitors can also ensure that restrictive covenants are provided in this agreement to protect ex-employees from working for a business, taking away business or seeking to take valued employees
  • Help you negotiate on the amount offered under the agreement
  • Explain the meaning and effect of the agreement to advise you if anything needs amending or changing
  • Discuss any additional terms on your behalf as required
In addition employers can also fall into some difficult traps relating to the taxable position of severance payments which is not always straight-forward. We can guide you through this process.
 
If you would like to speak to a member of our specialist employment law for businesses team in relation to a settlement agreement please call us on 0203 816 9302​ or complete our online enquiry form and we will contact you directly.
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