Help with a COT3 settlement

jrc123

Hi Forum,

I have a quick question.

I am currently going through an employment tribunal process, submitting documents, and pursuing a claim against my former employer.

They have now proposed a COT3 agreement, and I’m wondering if anyone could offer advice on whether it’s advisable to sign it. a lawyer has quoted me quite a lot but it a short agreement.

Thanks in advance!

BrassicWoman

The only relevant question is, are you happy with the proposed agreement? If so, proceed and save yourself much stress in the future. If not, crack on with court.

jrc123

They are still insisting on confidentiality and IP clauses but have waived my non-compete, which is positive.
If anyone wants to take a quick look, I’d appreciate it (no pressure—I won’t hold anyone to it) :-)

tacpot12

Is there any significant IP at stake?

Marcon

jrc123 said:

They are still insisting on confidentiality and IP clauses but have waived my non-compete, which is positive.
If anyone wants to take a quick look, I’d appreciate it (no pressure—I won’t hold anyone to it) :-)

Yes, they expect they are - so probably not a good idea to offer sight of it to random strangers on the internet...

If you don't know what you're signing, then you need legal advice from someone you can hold to account (and is insured!) - the length of the document is neither here nor there. It's what it says that counts, not how long it is.

Savvy_Sue

I believe it won't be binding if you don't take legal advice. Has the employer offered to pay towards the cost of this? They usually offer a certain amount which won't cover you starting to negotiate.

LightFlare

Savvy_Sue said:

I believe it won't be binding if you don't take legal advice. Has the employer offered to pay towards the cost of this? They usually offer a certain amount which won't cover you starting to negotiate.

Really ? That would throw a whole spanner in the works of contract law or is this just specific to COT3 ?

Not something I’ve heard or come across before

Undervalued

Savvy_Sue said:

I believe it won't be binding if you don't take legal advice. Has the employer offered to pay towards the cost of this? They usually offer a certain amount which won't cover you starting to negotiate.

No.

That applies to a formal settlement agreement (what used to be called a Compromise Agreement). A COT3 agreed through ACAS does not require the employee to receive legal advice for it to be binding as ACAS is considered a neutral arbiter. 

However, in my opinion in most cases legal advice would be a good idea.

Marcon

Savvy_Sue said:

I believe it won't be binding if you don't take legal advice. Has the employer offered to pay towards the cost of this? They usually offer a certain amount which won't cover you starting to negotiate.

As others have already pointed out, you're thinking of a settlement agreement.

Good explanation of COT3 here: https://www.davidsonmorris.com/cot3/

ohreallƳ

Perhaps ask a law clinic for an opinion before agreeing anything.

Since the other side are seeking to enforce a gagging order, I hate them passionately, ensure you get an appropriate level of settlement to take this into account or look to amend its content.