Settlement agreements are contracts between an employee and an employer which can be used to solve disputes or to terminate a working relationship.
Settlement agreements are usually proposed by an employer, and once signed, means that an employee cannot take the employer to tribunal over these issues. In order for an agreement to be valid, the employee must have had independent advice, from an adviser such as a lawyer or certified trade unionist.
A settlement agreement will usually contain obligations which apply to you after your contract of employment has ended. Sometimes the settlement agreement will refer to your original contract of employment in this regard. We can assist by advising you accordingly.
For more information, you may wish to refer to the guidance on the ACAS website: http://www.acas.org.uk/index.aspx?articleid=4395