Settlement Agreement Advice
Expert Business Settlement Agreement Legal Advice
Newtons’ employment law team is hugely experienced in negotiating and advising on business settlement agreements for companies. The terms in a business settlement agreement are rarely straightforward, and our solicitors are here to advise employers and senior executives to ensure the company’s best interests are protected.
Why Would an Employer need to Draw up a Business Settlement Agreement?
There are different reasons as to why a business settlement agreement may be needed, however they are usually used when an employee is leaving the company. By signing a business settlement agreement, employees normally waive their rights to bring claims in the Employment Tribunal or County Court about their employment or why and how it ended.
Why Would an Employer need Business Settlement Agreement Legal Advice?
It’s highly advised for employers to seek business settlement agreement legal advice before agreeing to the terms to ensure that the agreement is valid and protects the company’s legal and commercial interests.
It’s vital to get the timing right of when to begin discussions with your employee about the possibly amicable termination of their employment. Proposing an agreement prematurely is risky. We can advise you on how and when to start discussing this with your employee.
We can draw up a business settlement agreement to effectively protect the company’s legal and commercial interests, and ensure you fully understand the implications of signing. Also, we can provide you with step-by-step guidance and template letters to take you through the entire process.
As well as discussing the financial terms, we can guide you through other provisions you might want to include, such as a confidentiality agreement, repayment clause or return of company property.
Will the Employer Pay the Business Settlement Agreement legal fees?
It is common practice for the employer to cover the cost or contribute to the cost of the employee’s legal fees. However, in an instance where the business settlement agreement would be more beneficial to the employee than the employer, then the employer may choose not to contribute.
We can advise you on whether or not to cover or contribute the legal fees. A potential claim could incur greater Employment Tribunal costs, for example.
Please contact our Employment Law Team
If you are an employer or senior executive seeking business settlement agreement advice from experienced employment solicitors, please get in touch with our team. We can also provide additional HR support tailored to your company, if this is a service you are interested in.