Compromise agreement


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Note: "In the United Kingdom, a compromise agreement is a specific type of contract, regulated by statute, between an employer and its employee (or ex-employee) under which the employee receives consideration, often a negotiated financial sum, in exchange for agreeing that he or she will have no further claim against the employer as a result of any breach of a statutory obligation by the employer.

Except when ACAS have been involved and arranged a COT3 settlement, COT3 being the name of the form used, compromise agreements are the only means whereby an employee can waive statutory claims such as unfair dismissal, discrimination or entitlements to a redundancy payment. The agreement will only be valid where (i) it is in writing and (ii) the employee has received independent legal advice from a relevant adviser who has professional indemnity insurance. An employee cannot compromise potential future claims, though claims that have already arisen, unknown to the employee, can be waived. The Employment Rights Act 1996 provides at Section 203 for the conditions relating to the validity of Compromise Agreements. The Equality Act 2010 also regulates the conditions for the validity of Compromise Agreements, but a possible drafting error may have affected the scope of Compromise Agreements to settle discrimination complaints." - (en.wikipedia.org 14.03.2020)

[Last update: 2022/01/08]