Compromise Agreement
IPSWICH LAWYERS COMPROMISE AGREEMENT
What is a Compromise Agreement?
Compromise Agreements are the legal tool used to end relationships between employer and employee and prevent disputes escalating into full blown legal battles.
Compromise agreements are becoming increasingly common because they allow employers, especially in redundancy cases, to avoid complaints being taken to employment tribunals. They are legally binding agreements, protected under statutory law, which allow employers and employees to come to an agreement on issues such as severance pay and payment in lieu of proper notice given by an employer.
Such agreements may come about on the basis of an underlying dispute between employer and employee; cases where the employee is medically unfit to continue working; circumstances where employees do not wish to return to work after maternity leave and redundancy.
Why consult an Ipswich Compromise Agreement solicitor?
We are experts on compromise agreements and can conveniently deliver a professional service to the residents of Ipswich. We act for both employer and employees and have experience of negotiating the best financial packages possible regardless of the circumstances under which the compromise agreement was made.
A unique aspects of these agreements is the fact that the under lying causes of the agreement do not necessarily impact on the amount of money you are entitled to receive. Payments made outside contractual terms of employment are tax free up to the first £30,000.
The advantages of using a Compromise Agreement are as follows:
- the reasons for termination and/or the settlement terms will remain confidential.
- Reduces risk exposure
- Maintains amicable relationship with staff
- Avoids drawn out disputes and bad morale effects on other members of staff
To book an appointment with a compromise agreement solicitor in Ipswich please contact us now.