Useful Information on Settlement Agreements

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Settlement Agreement or Compromise Agreement?

Prior to July 2013 agreements terminating employment which incorporated a settlement package and where the employee signed away rights to bring certain claims against their employers were known as compromise agreements. In July 2013, the Enterprise and Regulatory Reform Act changed the name of these agreements to Settlement Agreements. The government considered that the term “settlement agreement” was more reflective of the nature of the agreement. The agreements themselves have remained largely unchanged.