Known both as a Compromise agreement and as a Settlement agreement, this is a legally binding agreement recording a person’s employment being terminated.
For the employer, the agreement will mean that the employee will have no further claim against the employer as a result of a breach of a statutory or contractual obligation by the employer.
For the employee, the agreement will provide a financial sum in exchange for the signing of the legally binding agreement. In addition, the agreement might include an employment reference and details of the notice period.
Hudgell & Partners provide independent legal advice to employees that have been offered a compromise agreement. This will involve a face to face meeting, going through the agreement line by line and answering any questions arising from it. After this, the employee will sign the compromise agreement and Hudgell & Partners will sign and send to the employer a letter confirming that the employee understands the terms of the compromise agreement. In addition Hudgell & Partners will send you a letter of advice giving a summary of the advice given at the meeting with you.
Taking independent legal advice is a statutory requirement of concluding a compromise agreement and, in the majority of cases, the employer will pay the legal fees.
Our service will be carried out by Nicholas Hart a solicitor who has more than 30 years’ experience in dealing with compromise agreements.
Our fees for providing this service are between £350.00 plus VAT at 20% and £500.00 plus VAT at 20% dependent on how quickly we are required to act and the complexity of the settlement agreement. The matter normally takes between 3 and 14 days to complete.
Our service does not include advising you on bringing a claim against your employer or taking any court proceedings.