Settlement Agreements for Businesses

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There is a place in every business for settlement agreements, previously known as compromise agreements. They have a very specific function within a business and can be offered to protect your business from a claim.

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If you are in a situation with one of your employees and you think you would like to explore the option of a settlement agreement, our Andover solicitors can help.

What Is A Settlement Agreement?

Clarity and Advice on the Negotiation Process

1.1

Quite simply, this is an agreement that will end your employee’s contract with you. It will also waive their right to take you to an employment tribunal at any stage after the settlement agreement has been signed.

Whilst the odds may seem stacked in your favour, your employee will normally negotiate with you to receive a payout and also a reference from you. This way the benefit is mutual.

Settlement agreements are legally binding and your employee must enter into the agreement with you voluntarily.

It is important to follow the statutory rules that decide whether a settlement agreement is legally binding. Our solicitors will help you with this part of the process.

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Contact Us to Find Out How We Can Help Resolve Your Employment Issue

For a no-obligation discussion talk to one of our experts about settlement agreements and how they can help you to solve any issues within your business, call on 01264 353411, email us at employment@bsandi.co.uk, or complete our online enquiry form.