At a glance (Summary)
- What is it? A settlement agreement (also called a deed of release or deed of settlement) is a legally binding way for an employer and employee to resolve a dispute or end employment on agreed terms.
- Full and final: These deeds are commonly drafted as full and final settlements that bar further claims by the employee (and sometimes the employer). Understand the scope before signing.
- Get advice first: Have the deed reviewed by Professionals Australia/WAS before you sign to ensure the terms and implications are clear.
- Variability: Deeds vary widely between employers. Many use pro‑forma terms (e.g., FWC conciliation templates) but wording and risk allocation differ.
This is general information, not legal advice. See “Need more help?” below.