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Completion Date when your Compromise Agreement becomes Binding

October 22nd, 2009 · No Comments · About Compromise Agreement Blog, Completion Date of your Compromise Agreement, Compromise Agreements, Signing Compromise Agreements, Termination Date, Without Prejudice Discussions, Your Compromise Agreement is a Binding Contract

Both employers and employees have to be aware of the completion date of a compromise agreement. In some cases the employer might put the termination date and the completion date as the same. This works if the employee is in the UK (not on holidays or travelling) and able to get the compromise agreement signed and returned to the employer.

The reason why this is so important is that on the completion date (i.e. the date stated in the compromise agreement), the without prejudice agreement becomes a binding agreement on both employer and employee and most importantly the offer made by th empoloyer to the employer lapses as of that date.

 It is therefore crucial to ensure that if you are an employee that you can meet this deadline imposed by your employer and to be aware of it in case your circumstances are likely to change.

If that is the case, you would have to request your employer to revise this date to a more suitable one (explaining the reason why you need the change to be made).


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