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What is a ‘severance agreement’ or a 'redundancy agreement'?
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A ‘severance agreement’ or 'redundancy agreement' is another term for a Compromise Agreement. If you are at risk of redundancy – or have been made redundant – some employers offer a Compromise Agreement. This is a legally binding agreement where you and your employer agree the terms of your redundancy.
Importantly you are giving away any claim you may have if you have been unfairly selected for redundancy or a proper procedure has not been followed. In return you receive compensation.
Frequently asked questions
- What is a ‘severance agreement’ or a 'redundancy agreement'?
- What is an employment Compromise Agreement?
- What is the cost of your Compromise Agreement service?
- What issues will an employment Compromise Agreement cover?
- Why do I need independent legal advice on the Compromise Agreement?
- Why would I agree to a Compromise Agreement when I have a claim for unfair dismissal or discrimination?
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