Who Signs Your Settlement Agreement First?
Typically an employee will sign first and then it is signed by a solicitor for settlement agreement. They provide a certificate to confirm that he or she has provided the advice necessary to ensure that the agreement is legally binding.
The employee’s advisor will then normally send a copy of the signed and certified agreement to the employer’s advisor. They will then liaise with their client to obtain a signature from the employer to ensure the agreement is in.
Often settlement agreements have counterpart clauses. This allows all parties to sign separate documents, and as long as the agreement is identical, it forms a binding contract.
Who Pays for Your Settlement Agreement?
Ordinarily, a settlement agreement provides a fixed fee contribution towards the legal costs which will be incurred in taking advice on the agreement. This amount tends to vary between £250 plus VAT and £1,000 plus VAT.
The legal cost contribution will cover all expenses related to obtaining advice on the terms of the agreement and assessing whether there are grounds for negotiation.
If a negotiation becomes appropriate, then the legal adviser will advise you of any additional costs which may be incurred in following that process.
If there is an opportunity to negotiate the terms of the settlement being paid to you, the legal advice contribution being paid may also be negotiable.
Get Expert Advice
Ensure your settlement agreement is legally binding and works for you. Consult with us today to secure expert advice and start the process.
With over 10 years of experience in employment law matters, David Philip Harris specialises in providing legal advice on settlement agreements to both employees and employers throughout the UK. David’s opinion and advice are frequently sought after as he contributes often to BBC Radio Berkshire and the People Management Magazine. David Is a long-standing member of The Employment Lawyers Association and The Law Society.
