What to do once the settlement is signed
Once both parties have signed, you are legally bound by the settlement agreement. It is important to take time to understand the terms and consider your position before signing.
You do not have to sign a settlement agreement. If you are unsure, consider whether the terms are fair and in your best interests; don't feel the pressure, as there are other legal routes.
If you choose not to sign, you can still pursue a legal claim if needed. Independent legal advice is required for a settlement agreement to be valid, and it also helps you understand the implications before you sign.
What happens if you don't sign the settlement agreement
If you decide not to sign, this is okay, but you should be thinking carefully about your next steps.
Sometimes, you may get a better outcome by taking your claim to a tribunal or court, even if it is more work.
Ultimately, this route can take more time and be more costly, but you must weigh the benefits of settlement against the risks of a dispute.
Then what benefits you the most makes for the most fitting option.
Amendments & variations after signing
As we mentioned earlier, once both parties have signed, neither can simply withdraw from the settlement agreement.
Changes can only be made if both parties agree in writing, which makes sure any new terms are actually enforceable.
In reality, changes are rare, so it is important to get the terms right before signing.
Speak to Orwins for settlement agreement advice
At Orwins, we provide clear, practical advice on settlement agreements, from first review to negotiation and completion.
If you are considering a settlement agreement, we are here to help. Contact Orwins for expert solicitors and confidential advice tailored to your needs.