Settlement agreements are usually used to record the terms of an employee leaving their employment, whether by reasons of redundancy or otherwise. They give certainty to both employer and employee. A well prepared agreement will give certainty to an employer that they will not face a claim arising from the termination in the future, and certainly to the employee of the sums to be paid, and any reference to be given to any new employer.
By convention, the employer usually pays or contributes to the cost of the employee receiving independent legal advice on the terms on a settlement agreement, so please get in touch.