Thompson`s nor solicitors have experience in managing compromise agreements. Each year, our specialized team helps many employees redesign the process with their employers. Below, experts from our labour rights department answer some of the most frequently asked questions about the process of signing a compromise agreement. Thompsons NI Solicitors has a team of labour law specialists who advise and assist people in the compromise process. We have extensive experience working on a range of jobs that we use to obtain the best possible contractual terms. We pride ourselves on our efficient and fast service, which concludes compromise agreements with even the most urgent deadlines. Compromise agreements are voluntary and you don`t need to sign an agreement if you don`t agree to the terms. If the agreement is not signed, it is not valid and you can make or pursue any claims against your employer. You will stay busy and your employer may consider terminating your employment in another way, for example. B by following a disciplinary procedure or procedure.
Q: “What are the requirements for a compromise agreement to be considered a legally binding document and what are the benefits of such agreements?” A transaction contract is sometimes agreed before the end of the worker`s employment, but sometimes they are agreed after the end or after the application in court – they can be agreed at any time until the court`s judgment. A billing agreement usually provides compensation for the employee. In return, the worker will agree not to assert rights against the employer with respect to his employment and dismissal (as well as any other conditions that the employer may impose). From 6 April 2018, a compromise agreement must specify that a notification has been sent or that it must indicate the amount of the post-employment work notice (PEP) to be paid. If the agreement does not refer to the payment of termination, HMRC treats part of the compensation as a termination payment and signs it to tax and national insurance. Our specialists will ensure that the corresponding conditions are used in the transaction contract to protect the tax status of payments. However, there are a small number of potential rights that cannot be contracted, including the personal injury rights that the worker does not yet know about and accumulated pension rights. In addition, some receivables cannot be entered into by a transaction agreement, but may be covered by a COT3. Compromise agreements are legally binding contracts that are often used to terminate a working relationship under agreed conditions. In Britain, the corresponding compromise agreements are referred to as comparative agreements and UK-based employers could therefore indicate that they could offer Northern Ireland workers a conciliation agreement rather than a compromise agreement.