We have a transaction calculator that shows what you might be entitled to. There are a few basic guidelines that you should keep in mind when meeting your employer without prejudice, and the approach required is slightly different depending on whether you requested the meeting or if it was requested by your employer. If your employer has requested a non-prejudiced meeting, this can be a positive step towards a successful negotiation and resolution. Transaction agreements are not legally binding unless the employee has received independent legal advice. Employers generally agree to pay for your legal fees, but they don`t necessarily cover all of your expenses. A contribution of between $200 and $500 is common. However, if your situation is complex or your lawyer has to negotiate on your behalf with your employers, your legal fees may be higher. Sometimes it`s worth self-financing the extra legal fees to get a better deal. It is important that the agreement reached is fair. Each case is different; one person could look for money while another may need a good referral, or even return to work after his or her dismissal. Most transaction agreements lead to a “clean break” – where workers and employers share the business – but sometimes the employment relationship continues after that. Here are some examples: a transaction contract does not necessarily mean that your job is coming to an end. You may have filed a complaint about your job, which your employer recognizes as valid, but it wishes to remain confidential.
On the other hand, your employer may change the length of work in a way that might otherwise constitute an offence. They can offer you compensation as part of a transaction agreement to achieve this. As a general rule, it does not matter if there is a “reason for withdrawal” in a transaction contract. However, if both parties are bound by confidentiality, it may be helpful to agree on what you will tell your friends/colleagues and future employers about the reasons for your departure. The frequent reasons are “redundancy” and “mutual agreement,” but some agreements do not mention the reason for the withdrawal at all.