Compromise Agreements and Schemes
Compromise agreements (also called settlement agreements) can be critical for employers who need to implement substantial redundancy programmes, or who wish to protect themselves form a potentially contentious dismissal.
By signing such an agreement, an employee waives his or her legal rights by accepting a final settlement payment from the employer. This includes any future recourse through an Employment Tribunal or court. To be legally binding, the agreement has to be witnesses and signed by an independent solicitor.
We offer specialist advice and guidance on drawing up sound compromise agreements.
We also offer a third-party witnessing service – coordinating and providing advice to your employees being offered compromise agreements, with our solicitors visiting your workplace where they will advise your employees and complete the agreements. Depending on the number of compromise agreements being offered, we may be able to substantially reduce the legal fees for completing them.