Compromise agreements are different from redundancy or dismissal settlements. A Compromise agreement is signed when the employee is not eligible for dismissal or redundancy.
The process of obtaining a compromise agreement is much like that of a compromise between an employee and an employer.
The employer and employee both need to prepare written proposals for a settlement to take place between them. Once these proposals are ready, they need to negotiate with an independent employment solicitor, who is familiar with the procedures to be followed to carry out a successful compromise agreement. For Legal advice you may want to contact a solicitor like Ascot Solicitors Parachute Law
A Compromise Agreement is a written contract that outlines the employee’s position with the employer after a dismissal for breach of employment agreement. In layman’s terms, an employee can quit an employer without receiving any penalties or recompense for doing so. An employee may quit an employer without losing anything in terms of benefits and entitlements but will have to settle any outstanding salary and other liabilities before quitting. Therefore, an employee has the right to settle his/her case with the employer before a final decision is taken by the Employment Tribunal.
A compromise agreement provides for a better and fair result between the employee and the employer. It also helps avoid long and drawn legal battles between the two parties. An Employment Lawyer can explain to you all about the rights available to an employee and the steps involved in a compromise agreement.