If your transaction agreement does not contain such a clause, you are free to disclose this information. It is advisable not to disclose specific information about your former employer, as privacy issues may arise. They may continue to be covered by unspoken confidentiality conditions regarding certain types of information. It should be possible to answer questions in a general, non-specific way, and not be misleading. There is also no minimum legal payment agreement. However, you would not receive compensation by transaction contract unless the payment was greater than the cost of legal advice, documenting and other legal requirements related to the conclusion of a transaction contract. If your employer offers you a transaction contract, the decision to accept can be discouraging. Here are some key factors they should consider A labour lawyer can help you ask yourself if you are getting a good deal and if you have a reason to have a right against your employer, such as discrimination or unfair dismissal. To decide if a deal is a good deal, you need to think about why the deal is offered to you and the rights you have to take under the signature, Landau says. Monaco Solicitors are experts in the management of all aspects of settlement agreements. These range from consultation, to the rights you may have, to negotiating an agreement on your behalf, to consulting an agreement that may have already been proposed to you. I have been offered a transaction contract – do I have to accept it? Labour agreements are negotiated on the basis of labour disputes.
Disputes may arise for a number of reasons, but for whatever reason, transaction agreements often contain conditions for severance pay. As a general rule, these conditions include the total amount of severance pay and whether the worker receives the lump sum or in installments. During negotiations, workers and employers will agree on the amount of the acceptable severance pay. Severance pay is calculated by determining the amount of wages an employee would have earned over a period of time. Even if the parties have agreed that your compensation is not taxable, it is customary for employers to demand “tax compensation” as part of the transaction agreement. This means that if HMRC decides that a tax is due, you will be responsible. Compensation generally stipulates that you must reimburse your employer for any tax that HMRC charges from your employer. A transaction contract is a voluntary and legally binding contract between you and your employer, in which you generally receive benefits, including a lump sum in exchange for waiving the right to assert certain rights covered by the agreement at a later date in an employment tribunal. As a general rule, employers offer comparative agreements to terminate contracts in situations where intractable problems have arisen, but they can also be used to resolve less serious employment problems, such as a dispute over vacation allowance.