If you are concerned about the validity or applicability of a transaction contract you have signed, you should seek further advice before any new steps. A transaction agreement is only binding if it has been signed by your professional advisor. It is always best to get professional legal advice before it concludes such an agreement, as there is no turning back once they are signed. “While you are attending the meeting, you will receive as much information as possible about why this transaction contract is being offered and how the package was calculated,” says Fiona Martin, a work lawyer at Martin Searle Solicitors in Brighton. Philip Landau and the Landau Law team are known at the federal level as employment lawyers. We are very important in the work we do and, above all, a high success rate in negotiating favourable agreements with employers. We have acted together in more than 25,000 such negotiations. Transaction Agreement – Do you need independent legal advice? A “transaction contract” is a legally binding document after the termination of your employment relationship. As a general rule, it provides for severance pay from your employer, for which you agree not to assert your rights in an employment tribunal. It is not uncommon for the transaction contract to also deal with the termination element of your employment contract and may provide for a “payment instead.” We are very experienced in advising on transaction agreements across the UK and we are well used to doing so quickly and efficiently. If your employer has given you a settlement agreement (or you are about to do so) for which you need independent legal advice, please contact us by email or call us: 020 7100 5256.
Pension: If necessary, payments to your pension fund must be continued until the termination date, and if a payment is made instead of dismissal, your employer may be obliged to continue to make contributions for an equivalent period, depending on the terms of the contract. If you choose to pay part of the compensation to your pension, this must be included in the transaction contract, otherwise you will not be able to benefit from the tax-free nature of the payment to your pension. Compensation: for the majority of workers, this will probably be the most important aspect of the agreement. The first $30,000 in compensation under the agreement can normally be paid without deduction for tax or national contributions. It is also important that there is a timetable for payment of this amount (for example. B in the next payroll or 21 days after the agreement is signed). Depending on the circumstances of the proposed termination, it is often possible to negotiate the number of benefits upwards and we can discuss this with you. In many circumstances, it is possible to finance non-profitable royalties. If an employee is authorized to perform “regulated activities” under the ACF or PRA, a gag clause is not applicable if your employment relationship is terminated. In every transaction contract offered to you, the following clause is now mandatory: since you work in this field for so many years, we can reverse your transaction contract within the expected time frame and in your employer`s contribution to the legal costs.
We use our experience to ensure that the final agreement you sign reflects the best possible results and billing conditions for you.