If you are being made redundant or are leaving your job, your employer may very well present you with a document called a Compromise Agreement.
A Compromise Agreement is a legally binding agreement for the termination of employment. The Compromise Agreement will offer you a sum of money in return for agreeing not to take legal action against your employer (e.g. for unfair dismissal). The Compromise Agreement may also deal with the notice element in your contract of employment and may provide for a "payment in lieu".
It is important that you should receive expert independent legal advice regarding the consequences of signing the Compromise Agreement. In some cases the better option might be not to sign the agreement and to take legal action or to negotiate a better package for you before signing the Compromise Agreement. Your employer will have to offer a sum of money to us (if you seek our advice) to advice you because otherwise any Compromise Agreement signed may not be binding.
The amount your employer is willing to pay us to advise you will be set out in the Compromise Agreement. Beaumonde Law Practice normally limit the fees to what is payable by the company, and hence you may not have to pay anything yourself to us fir independent legal advice.
Contact Beaumonde Law Practice, the employment law specialist, for legal advice on Compromise Agreement.
Due to poor goverment drafting of legislation Compromise Agreements are more of a minefield than ever.
In some cases you may be better advised to seek the assistance of ACAS in negotiating an arrangement, via ourselves, rather than signing a compromise agreement.
Beaumonde Law Practice will advice you as to which is the best option.