Compromise Agreement Advice for Employers
Compromise Agreement Advice for Employers covering Legality, Intent, Ex Gratia Payment and Post-Termination Restrictions
All five of the conditions below MUST be satisfied in order for the Compromise Agreement you sign with your employee to be legally binding on both parties. Without these then the agreement you sign is not worth the paper its written on.
- It MUST be in writing.
- It MUST contain a grievance. The employee has to assert a grievance in connection with his statutory employment rights in order to agree to compromise them via this agreement.
- It MUST be signed by a suitably qualified solicitor who MUST have properly advised your employee of the statutory employment rights he has agreed to compromise.
- The adviser MUST be covered by a suitable insurance policy. The policy MUST cover the adviser against the risk of a claim for losses because of the advice he has given.
- The agreement MUST contain a statement to the effect that the conditions regulating compromise agreements have been satisfied.
Click here for more information about: Intent, Ex Gratia Payment and Post-Termination Restrictions