Compromise Agreement
COMPROMISE AGREEMENT SOLICITORS BROMLEY
Bromley Compromise Agreements
Get a better deal, save time and money
Compromise agreements are mutually beneficial for both employers and employees. They save both time and money for both as you can resolve employment and other related disputes with an out of court settlement. To entice employees into accepting an agreement, the package will usually be more favourable than the amounts say, for example, for statutory redundancy payments, so if you have been offered a compromise agreement, it is certainly worth considering.
Why you may have been offered a compromise agreement
Compromise agreements are routinely offered in situations where employees have been dismissed from their job and have a fairly strong legal claim against their employment. So, generally speaking, by accepting a compromise agreement, the requisite payment of money and receipt of other benefits, you waive your right to take your employer to court or an employment tribunal.
Other possible benefits of compromise agreements include:
- A clean-cut of relations between you and your employer
- The freedom to seek other work immediately
- Receiving payment for your notice period despite not working
What claims cannot be restricted
Compromise agreements were created by government legislation and were designed to be mutually beneficial for both employers and employees. However, it is apparent that employees are in a weaker bargaining position and need some protection. For this reason, employers are not allowed to unfairly force you to waive your rights to take your employer to court for certain claims including personal injury and diseases which may sustained during the course of work and may take years or even decades to show their symptoms. Asbestosis is a commonly cited example of the latter.
Extra protection for employees
To further protect employees from exploitation, you are obligated to get legal advice on your compromise agreement. Without advice, you will not have a legal agreement.
Employers will usually agree to contribute or cover your legal costs. You can generally expect to receive £300 to cover your costs.
What Bromley solicitors can do for you
We can do more than just provide you advice on the content of agreement and its legal effect. Bromley solicitors offers a comprehensive range of services, including:
- Redrafting and negotiating compromise agreements
- Advice on confidentiality issues and restrictive covenants
- Advice on pension issues
- Advice on tax issues
- Advice on the strength of your legal claim and the possibility of pursuing legal action
- The lower and higher amounts generally offered in your circumstances
Get in touch
To find out how we can help you, please get in touch with Bromley solicitors.