ACAS agreements are generally much simpler and less comprehensive than transaction agreements. There are restrictions for the types of claims that can be settled by an ACAS agreement. This is the reason why employers often prefer to use transaction agreements. Monaco Solicitors are experts in managing all aspects of transaction agreements. These range from consulting with claims you may have, to negotiating an agreement on your behalf, to consulting on an agreement that may already be proposed to you. If the company offers wages and other payments, the agreement must state the exact amount and nature of the compensation. Payment can be a lump sum or a structured plan. In any case, the date and method of delivery should be fixed. Where companies pay redundancy payments over a fixed period, the agreement must define the duration and structure of the payments.
The settlement agreement should stipulate that once it has been signed by all parties, it becomes “open”, that is. .