Who is involved?
- Settlement agreement: employer and employee, usually via solicitors.
- COT3: parties plus an Acas conciliator.
When used?
- Settlement agreement: at any stage, with or without a Tribunal claim.
- COT3: typically when there is a Tribunal claim or early conciliation.
Legal advice required?
- Settlement agreement: independent advice is a legal requirement.
- COT3: not mandatory, though strongly advisable.
Content
- Settlement agreement: broader, covers references, restrictions, tax.
- COT3: often shorter, focused on settling claims.
