Can I buy a Compromise Agreement on The Internet?
There are plenty of websites offering standard form compromise agreements - unfortunately each dismissal is not standard.
From the beginning a compromise agreement is a damage limitation exercise. You will need an experienced employment lawyer to position the compromise agreement correctly from an understanding of your potential liability, so that the financial package that would be acceptable. You may also need help and guidance with the procedure to follow.
For a compromise agreement to be legally binding, the employee must be advised by their own independent legal adviser. Clearly, if the compromise package is inadequate or the compromise is poorly drafted this runs the risk of the employee being further alienated. The legal adviser may also insist that the fixed fee be greatly increased to take into account the increased work to agree on a redraft. We believe that the most effective way to resolve disputes is to make the process as smooth as possible to avoid the risk of a claim in the employment tribunal.
A compromise agreement should be tailored to the individual needs of the departing employee and employer, so that agreement can be easily reached. A carefully drafted compromise agreement can also protect your specific business interests.
For practical advice tailored to your needs please call Andre or Ruth both specialist employment partners at Stone Joseph on 0207 8549098.