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What are Settlement Agreements?
A settlement agreement will usually contain a waiver of any claim for breach of contract as well as statutory claims. Each agreement should be tailored to meet the circumstances of each individual case, and that’s why it’s difficult to adopt a one-size-fits-all approach to drafting a settlement agreement, and that is why we recommend you consult a solicitor whenever you are asked to sign an agreement.
Benefits of a Settlement Agreement
- The advantage for the employer is that they are able to draw a line under an employee’s departure or complaint and are protected from future claims.
- The advantage for the employee is the consideration, such as a financial sum, received in return is provided for by a legally-binding contract.
In addition to confidentiality clauses, a settlement Agreement may also include an agreed reference. A breach of the agreement and any financial loss that breach may incur for the other party can result in further legal action.
We can help with Settlement Agreements
If you are an employee in need of a solicitor to check over a settlement agreement, or an employer who needs to have an agreement written up, then contact our expert solicitors today. We have helped dozens of businesses and individuals over the last seven years. Our expert employment law solicitors are ready to help.