A settlement agreement is a contract that records an employee’s agreement not to pursue a claim relating, in most cases, to the termination of their employment against their employer in exchange, usually, for a payment of money.
In order to settle an employee’s potential claims against an employee, the parties can enter into a settlement agreement. This agreement must comply with certain legal requirements and the employee must obtain independent legal advice in order for the agreement to be effective and enforceable. It is important to get the wording right too, otherwise all claims intended to be settled might not be caught by the agreement. For employees, we don’t just rubber stamp the agreement, we will carefully consider whether it is in your best interest to sign the agreement, and often negotiate far better terms and conditions for you, including a higher compensation amount and better overall severance package. We can usually offer a same day service for advising on a settlement agreement. For employers we can guide you through the settlement process with confidence, ensuring that the potential dispute is settled as sensitively, quickly and inexpensively as possible.