Lost Your Job? The Ins And Outs Of A Compromise Agreement
- By Andrew Crisp
- Published 11/28/2010
- Legal
- Unrated
If you feel you have lost your job unfairly then you may be thinking of taking your employer to an employment tribunal in the hope of seeking compensation or even reinstatement in your old position. However, your employer may well have offered you a compromise agreement. This is essentially a method used by your employer to prevent you taking them to a messy and time consuming tribunal, but let's consider them...
What is a Compromise Agreement?
A compromise agreement is an agreement between yourself and your employer following termination of your employment. It is legally binding, and by signing it you are essentially bypassing your right to take your employer to a tribunal. The document may offer a 'payment in lieu' or a severance pay out. Of course, you are well within your rights to refuse to sign a compromise agreement if you are not satisfied with the terms. This means there will be no agreement made between you and your employer and you are free to go to an employment tribunal. Should you choose, you are perfectly free to negotiate your compromise agreement and ask for a high settlement. Occasionally, a tribunal claim may be effective in putting necessary pressure on your employer. The important thing about a compromise agreement is that it must be explained by an independent solicitor before you sign it and it must also be signed by this advisor.
Do I Need a Solicitor?
Due to compromise
agreements including a great deal of legal language and jargon, it is a requirement, by law, that you obtain professional advice before you sign the agreement. This is because it is crucial that you fully understand the document that you are signing. This advice can only be given by a lawyer or solicitor, a qualified trade union official or a qualified advice centre worker. Whoever you choose to deliver the necessary advice should be covered by a certificate of indemnity insurance. Any of these people will be able to inform you should the document fail to give you the necessary protection or if you are being offered an unsuitable amount of compensation for your employment termination. Legal professionals will offer you the advice you require when signing your agreement.
How Much Will It Cost?
You may think the legal advice that you require to successfully negotiate a compromise agreement will cost you a great deal of money. However, a compromise agreement should cost you nothing as your employer will usually foot the bill.
Where Can I Find Professional Advice?
You can find a suitable professional to advice you on a compromise agreement in a variety of places, most notably through the Internet. The practicality and efficiencies of the Internet mean that you have access to a massive range of solicitors who specialise in employment law and in particular in compromise agreements. Check online reviews and customer feedback from previous clients to see if the company has provided a quality service in the past. Good luck!
What is a Compromise Agreement?
A compromise agreement is an agreement between yourself and your employer following termination of your employment. It is legally binding, and by signing it you are essentially bypassing your right to take your employer to a tribunal. The document may offer a 'payment in lieu' or a severance pay out. Of course, you are well within your rights to refuse to sign a compromise agreement if you are not satisfied with the terms. This means there will be no agreement made between you and your employer and you are free to go to an employment tribunal. Should you choose, you are perfectly free to negotiate your compromise agreement and ask for a high settlement. Occasionally, a tribunal claim may be effective in putting necessary pressure on your employer. The important thing about a compromise agreement is that it must be explained by an independent solicitor before you sign it and it must also be signed by this advisor.
Do I Need a Solicitor?
Due to compromise
How Much Will It Cost?
You may think the legal advice that you require to successfully negotiate a compromise agreement will cost you a great deal of money. However, a compromise agreement should cost you nothing as your employer will usually foot the bill.
Where Can I Find Professional Advice?
You can find a suitable professional to advice you on a compromise agreement in a variety of places, most notably through the Internet. The practicality and efficiencies of the Internet mean that you have access to a massive range of solicitors who specialise in employment law and in particular in compromise agreements. Check online reviews and customer feedback from previous clients to see if the company has provided a quality service in the past. Good luck!
Andrew Crisp
For further information regarding compromise agreement and a wide range of advice from experienced professionals, please visit our website at http://www.compromiseagreement.org.uk
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