Settlement agreements: review and sign

Settlement agreements – even if you’ve got one in your hand, there’s more to it than just getting it signed and collecting the cash. Ok, not a lot more, but there is more. What about all the legal jargon for example?

Full transcript:

Settlement agreement signing, that's something that you need to have done if you have got a settlement agreement,

and you need to get that done by a solicitor.

They will normally charge you an amount that's in the agreement itself.

In fact they won't charge you, um, they'll charge your employer.

So, for example, we would send an invoice to your employer directly and you wouldn't be involved in that process.

We also have a guarantee whereby we guarantee not to charge you anything at all.

So, we're never going to ask you to.... to supplement in that amount.

If it's particularly complex we might ask your employer to pay a bit more.

There's a little bit more to signing these things than just literally putting pen to paper.

We'd go through it with you explain all the uh, small print, there's a tax indemnity clause in there

which you might have noticed if you've got one already.

Which looks a bit scary and it looks like you're liable to pay tax, even though it should all be tax-free.

Now don't worry about that normally that never gets activated at all that's just put in by customer practice.

There's often a uh reference clause which is missing from these things,

so we'd normally advise you to get a reference drafted, an agreed reference put in there

um, just so that in the future when you're getting your next job,

you know it tells you....it tells your new employee your dates of employment and job title.

We wouldn't go into any more detail than that normally because that's a bit of a can of worms

so your old employer oh so.....

So, just restricting to a standard reference that's a safer bet.

And then there's a few other things to look out for in there: uh non-disparaging remarks clause

that should be um, mutual, so it should be reciprocal, go both ways and uh a few other things.

So,certainly what we would do and any good solicitor would kind of go through these things carefully with you

and also look at the amount you're getting, work out if that's a good deal you may well be just really happy with it,

but it's good to know um you know UK's funny too so.

If, you do get in touch we'll give you a free consultation and let you know uh a couple of these things

you know without any obligation or anything like that to proceed with us.

So, give us a shot if you have any doubt.

Thanks a lot, bye.