Have you received a Settlement Agreement?
What to do if you have been offered a Settlement Agreement? Find out what you need to do and how Lincs Law Employment Solicitors can help.
Firstly, what is a Settlement Agreement?
They are legally binding contracts which are used to resolve ongoing workplace issues or to terminate an employment relationship. They are voluntary and neither parties need to enter into them. They also tend to include to some form of payment to the employee.There are specific conditions which must also be included within Settlement Agreements to ensure they are legally compliant. A Settlement Agreement must adhere to the following conditions:-
- The agreement must be in writing.
- The agreement must relate to a particular complaint or proceedings.
- The employee must have received advice from a relevant independent adviser, such as a solicitor.
- The independent adviser must have a current contract of insurance or professional indemnity covering the risk of a claim by the employee in respect of loss arising from the advice.
- The agreement must identify the adviser.
- The agreement must state that the applicable statutory conditions regulating the settlement agreement have been met.
What to do if you receive a Settlement Agreement now?
The current situation with the Coronavirus (COVID-19) is unprecedented and so it is understandable to feel confused now as to how you receive legal advice on the Settlement Agreement.
Lincs Law Solicitors can help you. All of our staff are now working remotely and conducting Settlement Agreement appointments via the telephone. We also have technology to be able to sign our adviser’s certificate remotely for you.
During our telephone appointments we can take your instructions and discuss the following:-
- We will take a detailed background to the situation.
- We will advise you on any potential claims you may have.
- If we identify a potential claim, we will estimate the value of that claim.
- If a claim is identified, we cross reference the value to your Termination Payment and advise you on the amount you are being offered. If we consider that the Termination Payment is not sufficient compensation for the termination of your employment/waiving your Employment Tribunal Claims, then we will ask you if you would like us to renegotiate the terms on your behalf.
- We go through the specific clauses of the Settlement Agreement and advise you on their meaning.
If you require any Employment Law advice or if you have received a Settlement Agreement, please do not hesitate to give us a call on 01522 440512.
Lucy Stones, Specialist Employment Solicitor
Lincs Law Employment Solicitors