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What Does a Compromise Agreement Contain?
A compromise agreement is made between an employer and employee when the employment contract is to be terminated. The agreement serves the purpose of a settlement between both parties that prevents future legal action for a breach of contract in return for a financial award. Many compromise agreements are marked 'without prejudice' and 'subject to contract'. As the agreement is normally made Without Prejudice this means that even if you pull out of the settlement, the content of the agreement cannot be used as evidence before the Tribunal. Subject to contract means that the compromise agreement is not valid until both parties have signed a legally binding contract, which will usually provide more detail than the original agreement.  When are compromise agreements used? A compromise agreement can be offered by an employer that is going to breach an employee's rights by terminating their employment contract. It is normally the situation in which an employer accepts that they may loose at an Employment Tribunal when a compromise agreement is offered. Therefore they can be used in cases of discrimination, unfair dismissal, constructive dismissal and redundancy. Read More of This Article Bonallack & Bishop are specialist compromise agreement solicitors. If you need advice on your redundancy compromise agreement contact one of their lawyers today. Tim Bishop is senior partner at the firm, responsible for all major strategic decisions. He has grown the firm by 1000% in 13 years and sees himself as a businessman who owns a law firm. Source: http://www.submityourarticle.com Permalink: http://www.submityourarticle.com/a.php?a=130225 |
