Schedule of Loss Compensation

[rainyday566]

HI
Need some advice pls

My schedule of loss is around 11k against my ex-employer.
I have sent them the document and they are ready to settle. But have asked me what I am expecting?
I am concerned if I ask for the full amount they might walk away.
Any advice if I should ask for 50% (or) any other factors to consider?
Ta

Is this a formal settlement agreement OP?

You must get advice from a lawyer or trade union. The employer can contribute towards this, or increase the settlement to cover this.

Without advice from someone both qualified and unconnected to the company the settlement agreement is basically just money from the company, and you would retain your right to a tribunal

That may not be true. ACAS can mediate binding settlement agreements.

OP, your "offer" is your calculated loss. You don't negotiate down your own loss! Tell them that this is the figure you want. It's up to them to make an offer first, and my advice would be not to accept it. And don't make a counter offer yet. Just say no, you want your loss. Unless you aren't confident in your schedule? If they are willing to settle now, they might play it out, but so can you. Chances are they don't want to go to tribunal or they wouldn't be offering anything. Offers can even be made on the day. I've seen that happen plenty of times. So don't be rushed into accepting less.

My schedule of loss is around 11k against my ex-employer.

what does the £11K comprise. How have you come to that number as your loss?

If you have raised a tribunal claim, ACAS can negotiate a type of settlement agreement called a COT3 without a solicitor having to be involved. However if its a standard settlement agreement, then you will need to get legal advice (the cost of which is usually covered by the employer as part of the settlement). I would ask them for the full amount of the schedule of loss. If they want to settle, they won't walk away unless your schedule of loss is completely ridiculous (which £11k is unlikely to be, you see ones of people thinking they're entitled to hundreds of thousands!).

They are highly unlikely to pay you the full amount of the schedule of loss - if they were going to do that they might feel that they're as well just to go to tribunal and take the chance of losing and paying you the £11k but also retain the chance that they will win and have to pay you nothing. They will likely come back with a much lower counteroffer and you can go back and forth until you reach a figure agreeable to both parties.

I would suggest taking some form of legal advice before settling though, even if you don't need to as part of a settlement agreement. Citizens Advice can sometimes provide specialist employment law advice if money is an issue. But even if you pay for it yourself, an initial consultation for a solicitor shouldn't cost more than a few hundred to get an idea of what your claim is worth, and you could then go negotiate settlement itself. If your claim is worth a few thousand more than you think it is, it would be money well spent. Companies will also sometimes take more notice if they realise you have had legal advice and know the merits and value of your claim.