You are therefore an employee and your employer has just mentioned the words “billing agreement.” What does that mean? How will this affect you? What do I need to know? Do not worry. You`re in the right place. We hope to give you all the information you need to know about transaction agreements by answering the questions we are most frequently asked. If you are an employer that always offers compromise agreements to your employees, it is likely that your agreement is obsolete and may not offer you the necessary legal protection. It would be wise for an expert in labour law to have your agreement verified to ensure that it adequately protects your business. The waterfront employment service can prepare an appropriate current agreement on a fixed royalty basis. A transaction contract is a legally binding agreement that defines the billing conditions between the employee and the employer. As a general rule, the employer will agree to pay a sum of money to the worker and, in return, the worker will agree not to sue the rights against the employer. As such, the employee is considered to have paid his rights. Your lawyer should review the different amounts available to you in your transaction agreement and advise you if this is a good deal. This is based on the facts of the employer`s request to terminate your contract. Your lawyer should give you advice as to whether you have a strong right if you take your case to court or a court and calculate what you would get if you continued your application in court in relation to what is proposed to you in the settlement agreement. A “protected interview” should allow employers to engage in off-balance sheet discussions in order to agree on an employee`s exit, even if there are no prior disputes between the parties.
The issues discussed will not be admissible at an employment tribunal hearing, although there are some exceptions that will not (for example. B in case of discrimination). A transaction contract could involve your employer, who promises to pay you a sum of money, no longer illegitimate you or treat both. probably! But this information does not replace technical legal advice on your situation. If you would like additional advice or if you intend to obtain a transaction agreement, contact Truth Legal to agree to a free, non-binding consultation with a lawyer. Terms negotiated under transaction agreements can often be a better financial outcome of what the worker can achieve by issuing an employment tribunal. This is due in part to the uncertainty and “risk of trial” of the complaint to a court. However, it can also give staff control over certain conditions, such as . B an agreed reference or announcement.
These are terms that can be extremely valuable to an employee. This fact sheet explains how a transaction contract works and what happens when a comparison offer is offered to you by your employer. The fee you pay usually covers the first consultation on the effects of signing the contract and we will always try to cover our fees from your employer and not from you. The agreement will likely include a legal fee for the cost of your legal fees. The value of this contribution varies, but generally ranges from $350 plus VAT to $500 plus VAT.