If you feel like you`re fired anyway, it may be a good option to accept the transaction contract. You will receive more money and maybe you can also negotiate a good referral. Your employer will probably also pay your legal fees. You`ve probably already negotiated a comparison figure directly with your employers, but that`s one of a lot of other issues that might arise that you didn`t think about. The experienced lawyer will be able to explain the compromise agreement, which can be written in very legalistic language and may relate to sections of laws and regulations that you may never have heard of. You may also not have realized issues such as taxation, pensions, benefits and the ability to negotiate an increase in your billing figure. A transaction agreement may include conditions for protecting the company`s reputation, including confidentiality clauses and non-derogatory comment clauses. It may also include termination restrictions (also known as restrictive agreements) to protect the interests of the company by limiting the employee`s activity for a period after the end of the employee`s employment or to refer to existing restrictions already contained in the employee`s contract. Billing agreements vary depending on the circumstances of each employee, but the agreement itself is often standard and is tailored to the package offered by the employer to the employee. Some provisions are typical of transaction agreements such as: this can be done by email and can even be sent to you in this way for final approval.

Some agreements need to see it, others don`t and may even look like a letter rather than an agreement. Most will have a “advice certificate”, where the lawyer as a certificate on their head paper, signed and dated, other types of certificates require only the signature, date and stamp of the lawyers. Redundancy is a difficult and stressful process, but if you know your rights can make it a little more manageable. If you have been informed that your role is threatened with dismissal and you have questions about the next steps, or if you have been asked to sign a transaction agreement, you can contact us today on 023 8071 7717 or contact employment@warnergoodman.co.uk by email. What kinds of rights can be settled by a compromise agreement? Depending on the nature of the circumstances, transaction agreements may be a faster and less costly way to terminate the worker`s employment than to proceed with a formal termination procedure.