It doesn`t matter if most of the claims mentioned don`t apply to you. The important point to understand is that you must not assert rights against your employer once the contract has been signed. For example, you informed colleagues of your negotiations before seeing the confidentiality clause and they understood 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) and your employer finds out, they may argue that they no longer need to respect their side of the bargain. You can refuse to pay compensation or even try to recover money they have already paid you. A transaction agreement may include a commitment from your employer to give an indication of you if he is asked to do so. The text and form of the reference can also be agreed with the transaction agreement – sometimes as an appendix to the agreement itself. What is the difference between an ACAS agreement (COT3) and a transaction agreement? You and your employer can offer a transaction contract. No no. But depending on the circumstances, your employer could fire you. If you reject the offer, you may not be better. If you feel you have been treated badly, you can still make a claim after you refuse a transaction, but you may not receive as much money as you were originally offered.

Keep in mind that the terms of a transaction must be agreed upon by both parties and that your lawyer will be able to inform you of what would be appropriate in your circumstances. ACAS is synonymous with advisory conciliation and arbitration service. ACAS does not need to play a role in your transaction agreement, but they do provide employers and employees with a free conciliation and telephone counselling service. 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.

As a general rule, it does not matter if there is a «reason for withdrawal» in a transaction contract. However, if both parties are bound by confidentiality, it may be helpful to agree on what you will tell your friends/colleagues and future employers about the reasons for your departure. The frequent reasons are «redundancy» and «mutual agreement,» but some agreements do not mention the reason for the withdrawal at all. It`s important to determine what your employer will tell future employers about your work and why you left – for example, by skinning the wording used in each reference they provide.