For a transaction contract to be valid against you, it must refer to certain sections of labour law. It must also contain clauses that say you are waiving some (or all) of your labour rights. . Many of the terms used have specific meanings that are necessary to give the transaction agreement its intended effect. However, the appropriate legal term is «transaction agreement.» Think about the motivations and fears of the opponent. Your employer may be concerned about the cost of defending litigation or bad publicity. They might try not to have a reputation for paying people. If so, your lawyer may propose changes to the agreement to give your employer an additional guarantee that the agreement will be kept confidential. There are very few exceptions: some types of rights cannot even be enacted with a transaction contract. The most common example is the assault that you are not aware of at the time of signing the contract.
For example, an allegation about industrial diseases in which you were unknowingly exposed to asbestos in the workplace, the transaction contract would not prevent you from taking legal action against your employer if you discovered years later that you had developed asbestosis because of this exposure. It is important that you understand everything in the agreement, and if there is something you cannot respect (or a term you have already violated), you should discuss it with your lawyer. Who are the ACAS and what is their role in the transaction agreements? probably! But this information does not replace technical legal advice on your situation. If you would like additional advice or if you intend to obtain a transaction agreement, contact Truth Legal to agree to a free, non-binding consultation with a lawyer. Confidentiality clauses are common in transaction agreements. They generally mean that the parties promise not to make prejudicial statements about each other. This would prevent you from making damaging comments in the press or on social media about your employer, even if you are telling the truth. It could also prevent you from reporting abuse as whistleblowers. Your lawyer should explain the consequences carefully. However, as a general rule, if you sign a transaction agreement, you should consider that it is a feature of everything that has happened between you and your employer and that you cannot assert rights against them.
You are therefore an employee and your employer has just mentioned the words «billing agreement.»