Employers generally insist on certain formalities when it comes to reaching an agreement. This generally means that the employee must obtain independent legal advice from transaction lawyers to ensure that they understand the terms. A properly drafted and negotiated transaction contract can be a very effective way to ensure that you are properly compensated for the termination of your employment relationship, without you paying any formal rights against your employer. Transaction agreements (also known as compromise agreements) are a popular way for employers, workers and workers to resolve disputes and complaints in the workplace, without the time and cost of combating labour law. We are specialist working lawyers based in the centre of Manchester. For more than 30 years, we have been advising and negotiating transaction agreements on behalf of our clients. Due to the sensitive nature of a transaction contract, they are often written in formal legal language, which can be difficult for you to understand. Everything is explained in plain English to make sure you are perfectly satisfied with the conditions set. Is your job coming to an end? Are you thinking of signing a settlement agreement with your employer? The contract contains other conditions, including the date the job is terminated, such as you will meet your notice, salary, benefits and expenses, including termination, confidentiality and termination restrictions, etc. If your employer has asked you to sign a compromise or compromise agreement, please contact a member of our team who can guide you through the process to obtain the best possible terms for you. An employer usually pays an employee`s legal fees for the advice on the transaction contract, and the fee is usually between $250 and $500, so it should normally cost nothing.
The cost of advising on a transaction contract is, in most cases, paid for by your employer, which means that you may not have to personally pay for this consultation. For the agreement to be binding, the worker must be advised by an independent lawyer. In this regard, it is important that the lawyer has experience in advising in transaction agreements, in order to ensure the best possible terms for the employee. Normally, we can see you the day you contact us. The completion time depends on the complexity of the dispute and the willingness of both parties to resolve the issues. Nevertheless, as advocates of transaction agreements, we are generally able to negotiate a resolution and conclude the overwhelming majority of transaction agreements very quickly.