VIC Acceptable Settlement Time

[Simo]

After agreeing to a settlement (with a confidentiality clause), how long should it take for settlement to happen? The way I understand it is that the company I was employed by is buying my silence, however should they not have to pay up within a reasonable amount of time? and what is a reasonable amount of time?

 

[Rob Legat - SBPL]

The terms of payment should be in the terms of settlement, or at least contextualised to some extent (but really, they should be clearly stated). Check to see if there are any pre-conditions to payment. This could be as simple as the signing of a settlement deed, or the return of items/documents.

If none of that applies, what’s ‘reasonable’ is also contextual to the circumstances, the amount involved and their means to pay that amount. It could also be covered by Victorian law, which I’m not familiar with. All that accepted, the basic start point is around 28-30 days.

 

[Simo]

The terms of payment should be in the terms of settlement, or at least contextualised to some extent (but really, they should be clearly stated). Check to see if there are any pre-conditions to payment. This could be as simple as the signing of a settlement deed, or the return of items/documents.

If none of that applies, what’s ‘reasonable’ is also contextual to the circumstances, the amount involved and their means to pay that amount. It could also be covered by Victorian law, which I’m not familiar with. All that accepted, the basic start point is around 28-30 days.

Thanks Rob, it's a huge multinational company, so they definitely have the means. The amount was under $50k & it was agreed to over 3 months ago, along with my resignation. The law firm that was used are not helpful at all, virtually no communication, agreed to the settlement of my genuine claim with a permanent injury without my consent & then bullied me into signing the paperwork, they have not provided copies of this to me. I will request these today.
I feel as though they have agreed to pay me for my silence but if they are not paying me within a reasonable time frame I would like to speak out about the company at fault & the law firm that represented me.

 

[Rob Legat - SBPL]

I would suggest your first act would be to demand payment in accordance with the terms of the settlement agreement. If that's not done, engage decent representation to advise you in terms of their breach of the agreement.