Contract of employment

Daz1806

I have just checked my contract and found a clause in it with regards bankruptcy, could you please have a look and let me know if you think this means we auto get dismissed or would be targeted mainly at people with attachment to payrol etc.

21 SUMMARY TERMINATION BY COMPANY IN CERTAIN EVENTS

This Agreement may be terminated forthwith by the Company without prior notice if you shall at any
time:-
21.2 Commit any serious or persistent breach of any of the provisions herein contained or of
your obligations as an Employee;

21.3 Become bankrupt or make any arrangement or composition with your creditors

I am pretty new to the company but not on probation and doing very well sales wise.

Does this also read as i would be introuble if was in IVA also?

Thanks

Ineedaname

If you're considering going BR I would have a chat with your HR department before doing so. It may be that with knowledge of why you are in this situation they won't terminate your employment.

However, if you go BR and don't tell your employer then it looks like you would be in breach of your contract of employment and they could dismiss you on that basis if they find out about the BR.

dojoman

Try contacting your HR dept, anonymously and ask them. Sometimes they enforce the contract, sometimes not.

Daz1806

Thanks guys.

I can not contact anon as we only have one women in hr and i have just asked her for a copy of my contract for my records, dont think she would find it hard to guess who the anon one is lol.

Its always the case with things like this, you know you should talk to them about it but dont want to jepordise your position by doing so.

Ineedaname

To be honest, I don't think most HRs have any clue about the implications of going BR and just chuck the clause in the contract cos it seems like a good idea to protect the company. Once you explain your situation they can make an informed decision whether keeping you on is going to affect the company negatively or not.

Meepster

Are you selling finance as part of your job role?

Daz1806

No nothing to do with finance.

The company is massive worldwide concern so am unsure if they are just using the clause to protect against financial staff and the fact that the directors of the company are just infact employees.

That is the way i would look at it but then im biased to looking at my own positives. I really dont want to lose the and cant afford to.

Ineedaname

That sounds likely and they just throw the clause into all contracts regardless. So again, if you speak to HR you may find it's not actually a problem and they will keep you on.

At the end of the day you have two choices if you have no option but to go BR:

1. Speak to HR in advance and find out whether BR would in fact mean dismissal.

2. Don't speak to HR, go BR and risk losing your job if HR find out about the BR.

debtinfo

The clause to me seems to cover bankruptcy and IVA, and any other arrangement. Alot of companies put this in as others have said to cover their own backs, but it seems clear to me that you have to tell them. I notice one glimmer of hope in that it says may rather than will terminte the contract

Daz1806

debtinfo wrote: »

The clause to me seems to cover bankruptcy and IVA, and any other arrangement. Alot of companies put this in as others have said to cover their own backs, but it seems clear to me that you have to tell them. I notice one glimmer of hope in that it says may rather than will terminte the contract

That is the exact same glimmer i was focusing on and holding out for.

i also thought it was covering both BR and IVA which is a concern as i have to do one or the other.

Will have to check with HR, will take advice from CAB again first though with regards both IVA and BR

curly04

i worked for a very larger insurer when i went BR

i was selling and underwriting very large policies i told them, and they were ok about it saying i didnt even need to tell them

our contract said something simuilar