In return for receiving termination payments (which could include your notice, redundancy payment, tax free sum and any other compensation) you agree not to bring an employment tribunal claim against your employer. This is why it’s important to review any settlement agreement solicitors terms with a specialist employment law solicitor.
Navigating Settlement Agreements: Trustworthy Solicitors at Your Service
It’s a legal requirement to receive independent legal advice before signing a settlement agreement or it won’t be valid. You may have already consulted a trade union rep or other adviser who is authorised to give advice on settlement agreements, but only a solicitor can provide astute and clear legal advice about the full meaning and effect of the typical terms found in settlement agreements.
The first step is a thorough review of all the documentation and evidence related to the dispute, from contracts and correspondence to reports and expert opinions. The aim is to understand what narrative these documents tell, how you can use them in your favour and the potential weaknesses.
It’s also essential to establish your limits – what are the minimum terms you will accept. This involves identifying your “best alternative to a negotiated agreement” (BATNA) and your “worst alternative to a negotiated agreement” (WATNA). It’s also helpful to clarify your goals for the negotiation, whether that’s financial compensation, a specific performance contract, a formal apology or anything else. This will help you focus your approach at the negotiating table and keep your options open as negotiations progress.