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If your employment is being terminated, your employer may ask you to enter into a settlement agreement, sometimes known as compromise agreement or a COT3 agreement. This may be a for a number of reasons. For example, your employer might be willing to pay you a sum, in addition to your contractual notice or statutory redundancy pay, for a clean break to be achieved. Alternatively, it may be in settlement of a claim for unfair treatment, discrimination, abuse, unfair or constructive dismissal.
The settlement agreement is a legal contract between you and your employer that will bind you both in the future and prevent you from taking a case to the employment tribunal. It is therefore essential to take your own independent legal advice from a settlement agreement solicitor before signing it.
Your employer must make a payment towards your legal costs so that you can take independent advice on the terms of your departure, assuming they do not want you to retain the right to take your case to the employment tribunal.
Our specialist settlement agreement solicitors, can advise you, quickly, professionally and efficiently either online or in person. And because we will recover our fees from your employer, there will be no cost to you.
Our solicitors will independently advise you on the terms of the settlement agreement you have been asked to sign and explain what it will mean for you in plain English. We will also negotiate any changes required, and when the settlement agreement has been finalised we will arrange for our legal costs to be paid by your employer.