Compromise Agreement
COMPROMISE AGREEMENT SOLICITORS IN BOURNEMOUTH
Compromise agreements have become an increasingly common “means to an end” for both employers and employees. These Agreements cover a multitude of different employment scenarios, but in essence, they offer a method of avoiding disputes for employers or bringing to a head ongoing employment issues, whilst for the employee a compromise agreement generally represents some money in the bank and breathing space whilst looking for alternative employment.
Legal necessity of independent legal advice
Compromise Agreements were created by Government legislation for political reasons (to try and reduce the number of claims being started in the Employment Tribunal, which is free to use). Amongst other technical requirements, these agreements are only legally binding and valid if the employee is advised by a qualified lawyer, hence the need for independent legal advice. There is no legal necessity for the employer to pay the employee’s legal fees but this is generally standard practice, typically up to £250.00 plus vat, which means that generally, our advice to you as employee will be free.
Common issues arising on compromise agreements
In addition to legal requirementr an employee to have been independently advised, good advice from experienced compromise agreement advisors such as Bournemouth Solicitors helps by:-
- assessing whether the compromise agreement offer is fair and reasonable
- discussing the available options and legal position if you reject the Compromise Agreement
- possibly negotiating with the employer to seek to obtain a better financial offer
- structuring the most tax efficient way for you to receive the settlement monies
Please contact us now for immediate, free advice. We will generally be able to see you for a same day appointmnmet and subject to your instructions, to conclude the agreement the same day if necessary.