Settlement Agreement Review: Costs, Process & Benefits

A settlement agreement is a legally binding contract between an employer and an employee that sets out the terms of an agreed exit from the company. These agreements often include financial compensation, confidentiality clauses, and other negotiated terms. If you’ve been offered a settlement agreement, obtaining independent legal advice is essential to ensure that your rights are protected. In this guide, we’ll explain the costs, process, and benefits of a settlement agreement review.

What Is a Settlement Agreement?

A settlement agreement is a voluntary contract that finalizes the terms of an employment termination. Employers use these agreements to prevent future legal claims from employees. A settlement agreement solicitor will help ensure that the terms are fair and in your best interest before signing.

Settlement agreements commonly cover:

• Compensation payments for loss of employment
• Notice periods and payments
• Tax implications of the settlement amount
• Restrictive covenants that limit future employment opportunities
• Confidentiality clauses to protect sensitive information

Why Do You Need a Settlement Agreement Review?

A settlement agreement is legally binding, meaning that once signed, you cannot bring further claims against your employer related to your employment or its termination. UK law requires employees to seek independent legal advice before signing to ensure they fully understand their rights. Without a legal review, you may unknowingly waive rights or accept terms that are not in your best interest.

The Process of a Settlement Agreement Review

The process for reviewing a settlement agreement is straightforward:

1. Find a solicitor – Choose a qualified employment law solicitor.Parachute Law provides expert settlement agreement reviews.
2. Submit your agreement – Send the document to your solicitor for review.
3. Legal consultation – The solicitor will explain the terms, advise on potential improvements, and suggest negotiations if necessary.
4. Negotiation (if required) – Your solicitor may negotiate better terms on your behalf.
5. Signing the agreement – Once you are satisfied, you and your employer will sign the agreement to make it legally binding.

How Much Does a Settlement Agreement Review Cost?

Most employers contribute to or fully cover the cost of independent legal advice for settlement agreements. Typical legal fees range from £250 to £750, depending on the complexity of the agreement. AtParachute Law, we offer competitive pricing with transparent fees.

Benefits of a Settlement Agreement Review

• Ensures fairness – Confirms that you receive a reasonable settlement.
• Protects your rights – Prevents you from unknowingly waiving valuable claims.
• Negotiation support – Helps you secure better terms if needed.
• Compliance – Meets the legal requirement for independent legal advice.
• Peace of mind – Provides confidence before signing a legally binding contract.

Get Your Settlement Agreement Reviewed Today

If you need a settlement agreement solicitor,Parachute Law can help. Our experienced team offers fast and affordable legal reviews to ensure your agreement is fair and in your best interest.

Contact us today to book your settlement agreement review and secure the best possible outcome.