So you are a worker and your employer just mentioned the words “transaction agreement”. What does that mean? How will this affect you? What do I need to know? Don`t worry. Then you`ve come to the right place. We hope to give you all the information you need to know about transaction agreements by answering the questions we are most often asked. What is the difference between an ACAS agreement (COT3) and a transaction agreement? Aim high, but be willing to compromise. To reach an agreement, both parties must feel that the agreement is fair. For example, you may have talked to colleagues about your negotiations before you saw the confidentiality clause and realized that you had to keep the existence of the agreement confidential. If you sign a clause that you have already violated (or if you violate the clause after signing it) and your employer will find out, they could argue that they no longer have to fulfill their side of the business. You might refuse to pay the payment for the transaction, or even try to get back the money they have already paid you. Apart from their respective rights, employers will also strive to ensure that there are no other possible rights that you may assert against them in the future. Presentation or precedent agreements often contain a list of all types of known claims, including those that might not apply to you. For example, most agreements retain formulations related to pregnancy and maternity, regardless of your gender. You can refer to the rights of part-time workers and the right to be heard with regard to dismissals, even if you have never been in such situations.
However, there may be cases when a staff member does not want to sign a transaction agreement, which they are entitled to do, since a transaction agreement is completely voluntary. Think about your opponent`s motivations and fears. Your employer might worry about the cost of defending litigation or bad publicity. They could strive not to have the reputation of paying people. If so, your lawyer could propose changes to the agreement to give your employer an additional guarantee that the agreement will remain confidential. . . .