Settlement Agreements

{For Employees}

We offer a national fixed fee settlement agreement service for executives and others, with out-of-hours appointments, free initial consultation, and telephone and email support as required. The service is aimed at employees across the country who want an efficient, professional conclusion of their agreement from a trusted employment law firm.

SETTLEMENT AGREEMENTS

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Our fixed fee approach to legal costs. 

A good settlement is a combination of legal effects working in proportion. We know the balance of convenience and always aim to put it in your favour. Over what is agreed – a sum of money – but also how the parties are drawing the lines. From there we can move to quickly finalising the agreement or negotiating a better settlement sum, in each case according to your instructions.

 
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STANDARD

SAME DAY SERVICE

Appropriate in cases where the offer is largely agreed in principle, but limited changes to the terms may be required to reach agreement.

Fixed Fee

£350

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ADVANCED

SENIOR EXECUTIVES

Typically instructed by senior executives offered several months pay, includes advice on tax saving aspects and restrictive covenants.

Fixed Fee

£500

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PROFESSIONAL

TAILORED LEGAL SUPPORT

Appropriate in cases where we are instructed to negotiate a substantial increase in the overall package and/or more involved changes to the terms. 

From:

£225 per hour

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How we finalise your settlement agreement. 

1:CONTACT

We ask for an electronic copy for initial perusal, arrange client set up and agree terms.

3:CONSULTATION

We identify the legal issues and any preferred improvement to the terms or settlement sum.

5:AGREEMENT

We advise on the terms and effect of the amended draft agreement.

2:MEETING

We arrange a meeting with you in person or by telephone, normally within 48 hours.

4:NEGOTIATION

Subject to your instructions, we put the case to your employer on your behalf for better terms.

6:COMPLETION

Signatures and exchange. We invoice the employer directly for their agreed legal costs.

Employees > Frequently Asked Questions. 

 

Where are the legal costs referred to?

In most cases, your employer will have informed you of the sum it offers to contribute to your legal costs before you contact us. If a draft agreement has already been prepared it should include a separate clause in the body of the agreement setting out the agreed contribution, which should be sufficient to advise you on the terms.



What do you charge for advising on a settlement agreement?

Our minimum charge for advising on the terms and effect of a settlement agreeemnt is £350.00 plus VAT. It normally takes beween one and two hours to finalise a settlement agreement. If the terms of the agreement, including the settlement sums, are agreed in principle, we expect to complete the agreement within the employer's contribution to legal costs. If more substantial amendments are required, including negotiation of a more attractive termination payment, we normally estimate at least two hours work will be required.



Do I need to take professional legal advice?

For settlement agreements to be binding in law, it is a statutory requirement for all employees to take legal advice from a solicitor or other properly designated legal professional before signing to confirm acceptance of the terms. To reach a contractually binding agreement, employers will almost always make a reasonable contribution to the legal costs of that advice accordingly. ACAS settlement agreements, sometimes called COT3 agreements, are an out of court settlement alternative to continuing with an employment tribunal claim. While it is advisable to take legal advice on the wording of a COT3 settlement agreement, it is not a ststutory requirement for employees to take independent lagal adviec on the terms before agreeing them.



How much can I expect my employer to pay towards my legal costs?

The statutory requirement is limited to obtaining advice on the terms and effect of the agreement and so the contribution is for advice on the terms only. It does not extend to any earlier discussion or negotiation associated with the proposed termination arrangements or severance payments offered. Some employers will therefore limit what they are prepared to pay in each case to the minimum required for the agreement to be completed.



Can I negotiate amendments to the terms of the agreement?

If your employer's contribution to your costs is less than our minimum charge we may seek your permission to engage with your employer to increase their contribution. If you ask us to negotiate an increase in the settlement sum or make substantial amendments to the terms, including the employer's contribution to your costs, we will provide you with an advanced costs estimate for the additional work.



Who do you send your invoice to?

We prepare an invoice marked payable by your employer and send it directly to your employer, as required by the terms of the agreement. If you have instructed us to negotiate substantial amendments to the terms of the agreement, including a more attractive severance payment, and have authorised costs above the employer's agreed contribution, we send a separate invoice marked payable to you for the balance.



 

TESTIMONIALS

JAY, BRAND DIRECTOR

You have been provided the highest standards of professionalism, integrity and focus in reaching the settlement outcome I had hoped for.

NAMI, SENIOR PROJECT MANAGER

Thanks for your help on the case and in resolving it. Should I be asked by ex-colleagues, I would not hesitate to recommend your services to them.

CAROLINE, ADMINISTRATOR

Thank you for all your help. I am very grateful for everything you have done to resolve this matter.

Corday and Co is authorised and regulated by the Solicitors Regulation Authority under reference 558935. Andrew Workman is a Solicitor and Principal of the firm based at County House, St Mary's Street, Worcester WR1 1HB. VAT Registration Number 139 0170 31. To find out more, please click here.