Settlement Agreements Solicitors
A settlement agreement - previously known as a compromise agreement - gives employers and employees the opportunity to resolve a dispute and make a clean break from an employment relationship.
The legally binding document contains terms and conditions which will ordinarily bring the contract of employment to an end. It is typically put in place to prevent a departing employee from taking legal action against a business, in exchange for a severance payment as well as other benefits.
If you are employee looking for legal guidance regarding a settlement agreement or compromise agreement (as previously known), please visit our employee section for more information on the help and support our solicitors can provide you with.
How we can help employers
The employment law department have substantial experience in drafting settlement agreements for many different types of businesses and situations.
Our settlement agreement solicitors will put together the document to your requirements, making sure that sufficient clauses are included to protect your business from harm. The team will also ensure that the correct procedure is followed, so that you can be safe in the knowledge that the settlement agreement is legally binding.
The department also provide legal guidance to employers during the negotiation of settlement agreements, which often arises after the agreement is presented to the employee and they take the necessary legal advice on its contents. During discussions between you and your employee, or their representative, we will work hard to reach an agreeable conclusion that is in the best interests of your business.
Benefits of settlement agreements
In the past, we have found that employers who draft a settlement agreement with the help of a solicitor benefit from greater peace of mind.
The document can help you to confidentially settle a potential or actual dispute that arises following the termination of a contract of employment, whether as a result of a dismissal, redundancy or other situation. It is also a good opportunity to refresh or update restrictions on future competition and to include clauses to prevent the use of confidential information. One of the main advantages is that the matter can also be resolved quickly without having to resort to the stress and cost of litigation.
Contact us for a consultation
If you would like to receive employment law advice and guidance from Davis Blank Furniss, please contact us on 0800 0284 396 for an initial consultation with a member of the team.