There are parts of the agreement that I don`t understand or can`t respect – does it matter? My transaction agreement says “without prejudice” – what does that mean? Settlement agreements are voluntary and the parties are not obliged to approve or discuss them. There may be a negotiation process in which both parties will make proposals and counter-proposals until an agreement is reached or both parties decide that no agreement can be reached. Reason for termination: this should normally be indicated and, in some cases, the reason is simply indicated as “mutual agreement”. What is the difference between an ACAS agreement (COT3) and a transaction agreement? the terms of payment and timing should be included in the agreement; Any payments should be made as soon as possible after the agreement has been reached. Many familiar names and terms are used for them: if you have recently filed a complaint, your employer will often want to pay you instead of having to spend time and money investigating your complaint. But consider seeing if you can short-circuit this process by sending a letter without bias first. There are a limited number of claims that cannot be included in a transaction agreement….