Settlement Agreements

What is a settlement agreement?

Settlement agreements have become essential tools, especially in recent years, for resolving disputes between employees and their employers without resorting to lengthy and costly litigation.
Settlement agreements are legally binding contracts that provide a structured way for parties to agree on the terms of a settlement, which often involve compensation or other benefits, and in exchange the employee waives their right to pursue any further claims against the employer.
These are typically used when an employee is being terminated.

Things to consider

There are a few very important things to consider before signing an agreement. You must get legal advice regarding the terms of the settlement agreement in order for it to be binding. Our solicitors will sit with you and go over all the terms of the settlement to ensure that you fully understand and agree to everything. It is very common for employees to not always be happy with the offer in their agreements, that is where our solicitors come in. We will help negotiate better terms and higher compensation where possible.

  • Settlement agreements will prevent both the employee and the employer from discussing the terms of the settlement.
  • A reference upon termination is not legally required. You can agree to have a reference as per the settlement agreement, which will require the employer to provide a reference with the wording agreed to by the employee.
  • Unless agreed upon differently, the employer will cover legal costs with the settlement

The Process

Here at Vas Solicitors, we have skilled solicitors who have expert knowledge on all areas of employment law.
Settlement agreements follow a fairly straightforward process; the employer will offer a settlement agreement,
the employee will review the agreement with solicitors, both parties will sign the agreement once all terms have been thoroughly read and agreed to.

How long does it take?

In many cases, a settlement agreement can be turned around in a day or two so long as you are happy with the terms of the settlement.
It could take a little longer if you need any of the terms to be renegotiated.
Our solicitors will always advise you to take a few days to think about the terms of the settlement to see if you are happy with everything before you sign it.

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