Settlement Agreements

Settlement Agreements

Settlement Agreements are also known as Compromise Agreements. They are a written agreement between the employer an employee that provides compensation to the employee, usually of a financial nature and in return the employee will not bring a claim against the employer.

Settlement Agreement Lawyers in Solihull

As specialist lawyers / solicitors in Solihull we are one of the leading law firms who provide help and advice on Settlement Agreements and Compromise Agreements.

Why have I been given a settlement agreement?

Settlement Agreements (compromise agreements) are given for a number of reasons these can be because you are in dispute with your employer, you have an enhanced redundancy payment, you have been given a larger payment in excess of your actual entitlement or maybe your employer wants to make a change to your terms of employment and is giving you a financial incentive to make the changes. There are many more reasons why you may be given a settlement agreement so if you want to ind out more please contact us for full advice.

Why the change of name to settlement agreement?

The Enterprise and Regulatory Reform Act 2013 (ERRA 2013) has made some significant changes to employment law and practice, some of which came into force on 25 June 2013. The new rules on settlement agreements came became effective from 29th July 2013.

Compromise Agreements that were correctly made before the 29th July 2013 remain legally binding.

Do I need independent legal advice?

Independent legal advice is important in order for a settlement agreement to be legally binding and this can be done through a fully qualified solicitor / lawyer or qualified trade union adviser.

How much will it cost?

The cost can vary as sometimes the Employers will contribute towards the employee obtaining advice on the settlement agreement / compromise agreement however this is not always the case.

From our Hockley Heath, Solihull – based offices, we specialise in employment law and can support you through every employment issue. We take the time to get to know our clients and pride ourselves on the pragmatic and supportive manner we offer, taking into account your individual needs. We can also help with a wide range of issues that may arise during the whole employment lifecycle.

So get in touch today if you have an employment issue that you think could be solved by settlement agreement lawyers and let us take the worry off your hands.