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The amount you will receive depends entirely on your particular case, so there is no average payment. However, in our experience, you can be very satisfied with the offer of a transaction agreement. You must get legal advice before signing, but nothing prevents you from signing the proposed transaction agreement. Similarly, there is no obligation for you to accept the offer. As the ACAS Code of Conduct for Transaction Agreements shows, transaction agreements are voluntary. You can enter a negotiation process to reach an agreement that would satisfy you or simply refuse a discussion. The agreement will be “contrary to the contract,” meaning it does not bind employers or workers until it is signed. If you stay active, your employer must pay you severance pay so you can leave. In most cases where a worker leaves without comparison, the employer waits for the worker to assert a right before he can settle. This in turn leads to an increase in costs on the part of the employee. For example, you may have talked to colleagues about your negotiations before you saw the confidentiality clause and realized 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 it) and your employer will find out, they could argue that they no longer have to fulfill their side of the business. You might refuse to pay the payment for the transaction, or even try to get back the money they have already paid you.
This handy guide describes when you would expect a transaction agreement, what it should contain, and what are the key factors that affect the amount you should receive.. . .