Settlement Agreements once signed are legally binding Contracts between an employer and an employee, in which there is usually:
- Termination of employment
- Payments made to the employee
- An agreement not to sue the company for anything
- other terms and obligations on both parties
Settlement Agreements are used by employers all the time, as they provide certainty. They mean that you waive any claims you might have against the company and in return you usually get paid.
Do you need urgent advice?
Do you need a solicitor to sign off a settlement agreement?
Yes. The law prescribes employees to take independent legal advice before signing any Settlement Agreements.
It is more than just “signing off” the agreement though. A solicitor must understand why you have been offered agreement, what the circumstances leading up to the termination or proposed termination of employment are, and therefore whether you have any claims. Secondly, the solicitor reviewing your settlement agreement should then advise you whether the package on offer, the money, is satisfactory or whether you would be able to get more money by negotiation or through an employment tribunal claim.
Does my employer pay for the Solicitors legal costs?
The agreement or covering letter should state that the employer will make a contribution to legal costs.
The contributions vary, between £250 plus VAT to maybe £1,000 plus VAT for more complicated or higher value settlement agreements.
Whatever the level of contribution, my fees will be capped at the contribution. This means you will not need to pay any more. Some Solicitors do charge of minimum of £500 plus vat, so do be careful before shopping around.
Can I get a better deal on the Settlement Agreement?
Yes, quite often there is scope to negotiate the terms of the settlement agreement but it does depend on a number of variables, such as;
- What the reason for termination is
- Whether you are being paid full notice pay, holiday pay, pension and other contractual benefits
- What level of role you held with the company
- Whether you are prepared to incur more costs
- Sometimes a better deal can mean making changes to the wording of the agreement as well
- Getting a (better) reference
- Keeping a company car or other company property such as mobile or laptop
I am often able to get employees a better deal. We will discuss the costs of negotiations when we meet to discuss your case, but regularly I get the employer to increase their contribution to legal costs.
Why use Steven Mather Solicitor to advise on your settlement agreement?
I’ve helped thousands of clients like you to sign off settlement agreements, provide expert advise, negotiate better deals and do all this quickly, at your convenience and within budget.
In working with me, you get:
- Quick responses – I will do my best to see you the same day if required, at a time to suit you. We can meet locally in Leicestershire, or meet on the phone or online via Skype, Zoom, WhatsApp or FaceTime – whatever suits you.
- Friendly understanding advice – I know receiving a settlement agreement and losing your job is probably one of the most stressful times for you and you’ll have lots of questions, but don’t worry, I’ve done this before! I’ll help you and explain in Plain English all you need to know. Don’t worry!
- Fixed fees, paid by your employer – my fees are limited to whatever contribution your employer offers, subject to a minimum of £250 plus VAT.
- A Better Deal? – depending on your circumstances, I may advise that we try to get you a better deal, more money or negotiate the terms and wording of the agreement.
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Settlement Agreement Solicitor
Solicitor in Leicester, or Online.