Why use The Law Superstore to help with a settlement agreement?
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30th August 2024
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29th August 2024
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28th August 2024
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27th August 2024
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23rd August 2024
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21st August 2024
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16th August 2024
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14th August 2024
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12th August 2024
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07th August 2024
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02nd August 2024
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02nd August 2024
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07th July 2024
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06th July 2024
What is a settlement agreement?
A settlement agreement is a legally binding document which is used to resolve a dispute between an employer and an employee. An employer will typically offer a sum of money and the employee will agree not to pursue a claim against the employer.
Getting a settlement agreement
If you are considering signing an agreement it is important that you know your rights. A solicitor can help you properly understand your settlement agreement and whether it is in your best interest to agree to the terms.
Negotiating a settlement agreement
If you do not agree with the terms proposed, a settlement agreement solicitor will be able to advise you if they believe you should be negotiating the terms and how to correctly go about this.
Frequently asked questions
How do you negotiate a settlement agreement?
If you do not agree with the terms of the settlement agreement, then you have the right to negotiate. You may want to reduce the restrictions put on you, or you may believe you are entitled to more financial compensation. An employment solicitor can help you negotiate realistic terms that are in your best interest.
How long does it take to negotiate a settlement agreement?
The amount of time it can take to negotiate a settlement agreement can vary. On average it can take 1-3 months to negotiate.
How long should you give someone to consider a settlement agreement?
The ACAS code of practice states that employees should have a minimum of 10 calendar days to review, receive advice, and consider the terms of an agreement unless agreed otherwise by both employer and employee.
What if I don't agree to a settlement agreement?
If you do not agree, you are free to reject the agreement. You may choose to renegotiate the terms with advice from a settlement agreement solicitor or you may instead choose to make a claim against the employer in a tribunal.
What does a solicitor do with a settlement agreement?
A legal service provider can be of assistance throughout the process of reaching a settlement. Your legal expert may accompany you to meetings, examine the conditions of an agreement, and liaise with an employer on your behalf.
