Settlement Agreement

What else you might like to know about Settlement Agreement

If you are looking to reach an out-of-court settlement to resolve a dispute with an employee, a legal service provider will negotiate on your behalf and prepare any necessary paperwork. Here is some basic guidance to inform your choice of legal expert. 

What is a settlement agreement?

A settlement agreement is a contract between companies or between an employer and employee that prevents further legal action in exchange for a sum of money. 

When can a settlement agreement prove beneficial?

The main benefit of a settlement agreement is that it can resolve an issue before it becomes public knowledge or reaches an expensive hearing or tribunal stage. It can not only save in legal fees for the claimant but also avoid embarrassment for the defendant. 

How will a legal expert help in drafting and reviewing the agreement?

A legal expert will help to draft a settlement agreement that is legally secure as well as satisfactory to all parties involved. They will also often act in the capacity of a mediator, presenting the agreement and its benefits to both sides. 

How can I find a suitable legal expert?

If you need advice or services relating to a settlement agreement then you should look for a legal service provider with demonstrable skills and experience. You may also wish to consider the client reviews and ratings they have received, as well as their location, size and cost before making a decision.

Answer a few short questions now and start comparing legal service providers based on the criteria most important to you.

How will a legal service provider charge me?

A legal service provider may charge on a fixed fee or hourly rate basis for settlement agreements. This may depend upon the complexity of the agreement required and the likelihood of redrafts.