There are parts of the settlement agreement that I don`t understand or can`t respect – is that important? Transaction agreements are contracts that prevent workers from asserting their rights against their employers. For them, many names and slang terms are used: my comparison contract says “without prejudice” – what does that mean? As of April 6, 2016, an HCEO is authorized to fine up to US$5,000 to an employer who has not paid the full amount (including all interest) earned in a COT3 agreement. The enforcement procedure for COT3 agreements is also included in the Register of Judgments, Orders and Fines (www.trustonline.org.uk), which can be searched by the public and credit reference services, and provides an additional incentive to pay the amounts due in a timely manner. Do I need independent legal advice before I sign a transaction agreement? How much would it cost and how can I pay for it? Legal authorities such as Internal Income and Jobcenter It may be advisable not to discuss the comparison with friends and especially with co-workers, as you may be asked to guarantee (promise) that you have not discussed the terms of the transaction contract with someone beforehand. If you had an obligation to give a confidentiality agreement, you should do so clearly. (ii) Alternatively, you can apply the transaction yourself or through your representative with the following forms: Even if the parties have agreed that your billing payment is not taxable, it is customary for employers to require “tax compensation” as part of the transaction agreement. This means that if HMRC decides that a tax is due, you will be responsible. Compensation generally stipulates that you must reimburse your employer for any tax that HMRC charges from your employer. Who are the ACAS and what is their role in the transaction agreements? A transaction contract could involve your employer, who promises to pay you a sum of money, no longer illegitimate you or treat both. It is important that the agreement reached is fair. Each case is different; one person could look for money while another may need a good referral, or even return to work after his or her dismissal.