The reflection period of a settlement agreement is the statutory period within which an employee has the opportunity to terminate the contract without giving any reason. This is 14 days. The reflection period gives the employee a chance to review this agreement and seek advice if necessary.

The standard length of the cooling-off period settlement agreement is 14 days. This period begins to run from the moment the agreement is fully signed by both parties. If the employer does not explicitly state the cooling-off period in the contract, it is automatically extended to three weeks (21 days).

There is no legal deadline on how soon you have to sign the agreement. Take the time that you need to consider the terms carefully.

The importance of a cooling-off period cannot be underestimated. It allows the employee to waive the agreement without giving reasons. This is important for fair handling of the dismissal because many employees sign without engaging a lawyer and find out within 14 days that the agreements made with employer were not as good as they thought after all.

This law has made it possible for employees to qualify for permanent contracts sooner, while it has also made it more economically attractive for employers to use mutual agreement dismissal agreements.

When an employee decides to revoke a settlement agreement, they must notify the employer in writing within the reflection period. This gives employees the opportunity to go back on an earlier decision, with no reasons to be given. Beware you may only use this right once in a 6-month period, if you sign for the second time within 6 months you cannot revoke the agreement.

When signing the settlement agreement, it is important to go through all the details carefully. As an employee, make sure you fully understand the consequences of what is being signed. Because of this, it is advisable to engage a dismissal lawyer.

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