To sign or not to sign

Here are 7 reasons to sign a settlement agreement and 5 reasons not to sign.

7 reasons to sign a settlement agreement

1. It’s a good financial deal.
2. I don’t want to sue or bring a tribunal.
3. I’ve got another job offer or I’m confident I will secure one before the settlement monies run out.
4. I want low risk.
5. I want a speedy resolution.
6. I want closure and the low stress route.
7. A bird in the hand is worth more than two in the bush.

5 reasons not to sign a settlement agreement

1. The offer is less than my basic statutory and contractual entitlements.
2. I want my day in court / employment tribunal.
3. My losses are likely to be much greater than the settlement agreement offer.
4. I can afford to wait longer if it means a good chance of getting a significangtly better award from an employment tribunal.
5. I’m not prepared to sign a non-disclosure agreement.

Employment Solicitor’s view:

“Most people accept the settlement offer and sign. There are other employers and jobs out there. While the grass may not always be greener on the other side, the chance of a fresh start – and take a break before you reboot your career, usually swings it for most people provided the financials stack up”.

What factors are most relevant to you deciding whether to sign your settlement agreement?

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