How Much Can I Expect From A Settlement Agreement

If you are currently facing a disciplinary action, you can usually expect less. Whatever the strength of your defence, your employer will no doubt try to blame you for the situation. A transaction agreement (formerly known as a compromise agreement) is a legally binding agreement between you and your employer. This generally provides for an employer`s severance pay in exchange for your consent not to make claims in court or court. As a general rule, the employer requires that you keep the conditions, such as. B the amount and circumstances of termination of your contract. If you would like legal assistance as part of your transaction agreement, please contact us to find out if we can help. We look forward to your questioning. There are a number of other factors that can be used when negotiating a transaction agreement depending on your circumstances. It should be noted that a transaction agreement is a cooperation between the employee and the employer. If the amount covered by the compensation is too high, he may withdraw from the negotiation process and prefer to take his chances to the labour tribunal, where the amount to be awarded could be much less, if at all. Our calculator also gives you a fair estimate of the compensation you may receive. For a transaction agreement to be legally binding, it must meet certain legal criteria that are quite complex.

But the real document itself may be as one of the examples on our website here. A transaction agreement – once called a compromise agreement – is a document that defines the terms of an agreement that you voluntarily sign as a worker and your employer. You would tend to get more in your settlement contract, where you worked for your employer for a long time, because you probably forged more loyalty there. Your knowledge of the business could also be greater, so things like transfers are more valuable. All of our lawyers are labour law specialists with extensive experience in managing transaction contracts. You must ensure that the transaction agreement specifies that you receive your regular salary and benefits until the termination date. With regard to the first question, the answer naturally depends on your circumstances: if you have accepted voluntary redundancies, then it is not (generally) possible to negotiate the value; However, if you are a forced worker (i.e. you have been told you are made redundant) and you have more than two years of continuous employment with your employer, we generally expect you to be offered, as the ex-Gratia (exempt) amount is between one and three months` gross salary to compensate for the loss of your job (in addition to your termination payment). , vacation pay, statutory allowance (and, if applicable, bonus, commission, etc.). The reason for this assessment is that, in a redundancy situation, the ex-Gratia amount is usually mainly based on the loss of income (if any) that you will suffer as a result of the termination of your employment relationship.