In civil litigation, an agreement to settle a dispute or provide a release or waiver of claims. In employment law, an agreement (formerly known as a compromise agreement) whereby an employee or worker agrees not to pursue certain statutory employment tribunal claims against a respondent or potential respondent to a claim. Commonly used to record an employees terms of departure where they are to receive a termination payment in return for the waiver of all actual and potential statutory (and usually common law) claims against the employer. For a valid waiver of statutory employment rights, certain statutory conditions must be met such as being in writing, the employee has received independent legal advice.
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