If you have bonuses or commissions due, the amounts owed must be specified in the agreement. A lawyer should check your contract to ensure that all contract bonuses and commissions are paid in full. However, comparative agreements, such as previous compromise agreements, are deceptively simple and can pose serious problems, particularly for the reckless employer. Think about the motivations and fears of the opponent. Your employer may be concerned about the cost of defending litigation or bad publicity. They might try not to have a reputation for paying people. If so, your lawyer may propose changes to the agreement to give your employer an additional guarantee that the agreement will be kept confidential. ACAS can settle employment tribunal claims (and potential claims) through a particular type of agreement called COT3. Parties to a COT3 are not required to be represented by lawyers. With the exception of a transaction contract, a COT3 is the only other legally binding route that a worker can give up/abandon. Most transaction agreements must cover all kinds of rights you can claim against your employer. This means that you are waiving your rights to assert personal injury rights and rights.
„The CASA guide is welcome. It not only recognizes the need for „adult-to-adult“ conversations in the workplace, but also confirms that transaction agreements are a useful part of this dialogue. While CASA`s guide to transaction agreements may be helpful, it is always advised by legal counsel (for example. B a specialist lawyer) to seek independent legal advice – if you receive such advice, you can understand exactly what you are signing, how the agreement can be improved and what steps are needed to conclude the transaction contract (if you wish). Your employer usually pays for this legal advice, so you usually have access to technical legal advice to your transaction contract at no direct cost to you. High goal, but willing to compromise. To reach an agreement, both sides must feel that the agreement is right. Another important tip is to make sure you have the right lawyers who act for you. If you don`t believe in the skills of your lawyers, always remember that you have the right to change lawyers if you wish. At Truth Legal, we have extensive experience in successfully negotiating transaction agreements. In this area, advice is certainly needed, as there will inevitably be a dispute over whether an employer or worker acted improperly in the provision of a transaction contract, and it will be some time before the law is clear as to what is acceptable behaviour.
Employers, in particular, need to be cautious about workers in these approaches. „The CASA guide is welcome because it provides the context for transaction agreements and prior discussions. It is not mandatory, but it will undoubtedly be mentioned and invoked by both parties in labour court litigation and will have compelling value. It`s not a quick read and non-lawyers may find it more intimidating. It contains some useful checklists, letter templates and a template for a billing agreement. A two-week delay should be sufficient to seek advice, get an appointment, review the draft treaty, obtain more information, etc.