'Q. OK, so what's really the advantage of a Compromise Agreement? What about an Employment Tribunal - won't that settle a dispute?
Well, as mentioned elsewhere, they are one of the few (and certainly the quickest and cheapest) ways in which employees and employers can settle a dispute relating to an employment contract finally and definitively.
A simple contract, without a Compromise Agreement, wouldn't do the job. This is because of the law accepts an unscrupulous employer could have got his way by intimidation, deceit, or sheer economic power. But English law prevents employees signing away their legal rights, except where a Compromise Agreement is used.
Without a Compromise Agreement an employee can tear up any agreement he doesn't like.
Although the employee may well not win anything from an Employment Tribunal or the courts, employers always have the risk of expensive and a time consuming dispute. For the employee, there is the stress and uncertainty of the outcome. In the end there are no winners.
A Compromise Agreement saves both sides time, expense and worry, thus accounting for its growing popularity amongst the financial institutions and staff in the City of London.
At Guy Thompson & Co our aim is to achieve a quick and inexpensive solution that creates a win-win for both parties.
Call today with any questions on 020 7274 6874 or write to us at contact@citycompromiseagreements.com .