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Frequently Asked Questions

What is a Settlement Agreement?

A Settlement Agreement or Compromise Agreement is a legally binding contract relating to employment claims, frequently concerning the termination of employment.  It will usually provide for a severance payment in return for you agreeing not to pursue claims against your former employer.

Why do I need to take legal advice?

It is a statutory requirement that in order for the Settlement Agreement or Compromise Agreement to be binding, you must have the Settlement Agreement or Compromise Agreement explained to you by an independent solicitor.

When should I take legal advice?

As soon as possible.  The greater the preparation, the greater the chance of negotiating a sensible exit package.

Why iSettlementAgreements?

iSettlementAgreements is a specialist division of Ryan & Frost Solicitors.  Our Employment Solicitors are experienced professionals.  We can advise you on all your options.  Our Solicitors will not only explain the terms and effects of the Settlement Agreement but will also advise you whether the offer is reasonable.  We will explain all your options, including possible amendments, undertake negotiations and if an acceptable agreement can not be reached, we can advise you and represent you in bringing a claim before an Employment Tribunal.

What documentation do we need to see?

We need to see the proposed Settlement Agreement or Compromise Agreement, your Contract of Employment and correspondence leading to the offfering of the Settlement Agreement.  Usually, if you provide your employer with our contact details, your employer will email or fax the Settlement Agreement and Contract of Employment to us.

Do I need to sign the Settlement Agreement?

No.  If you are not happy with the Settlement Agreement or Compromise Agreement, you do not need to sign it and can proceed to bring your claims before an Employment Tribunal.  Please remember that Settlement Agreements or Compromise Agreements can include tax efficient elements and refusing to sign will jeopardise this.  However, initially unacceptable Settlement Agreements or Compromise Agreements can often be improved through negotiations.  Our Solicitors are experienced negotiators.

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