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Old 21.03.2011, 19:32
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Contract buyout - advice?

Hi all,

I work as a recruitment consultant and currently have a candidate who is employed in Switzerland but looking to accept a job offer in the US. The American employer wants him over there in a month, but the candidate's contract states that he is bound by a three month notice period. So, the American employer has offered to buy out his contract.

I have reviewed his contract, and there is no clause stating what should be done under this circumstance, and (forgive me ) but my sketchy German didn't catch anything in the Swiss Code of Obligations advising what to do, either.

Does anyone have experience of this situation or can advise a way forward? If there is no minimum amount stated in the contract (such as compensation matching the candidate's monthly salary)...is there another required minimum or will it be decided between the parties?
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Old 21.03.2011, 20:17
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Re: Contract buyout - advice?

How much would the company stand to loose? possibly rather more than the salary. Probably the best thing to see how much they want!
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Old 24.03.2011, 11:32
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Re: Contract buyout - advice?

Usually these thing are negotiable. Buying out is not the only options.

V.
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Old 24.03.2011, 12:19
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Re: Contract buyout - advice?

Hi Clairey,

I've usually seen this work in the following way:

1) Candidate goes to his current company and states that his new potential employer is offering a buy out hence what would be the expectations from the current company.

2) Candidate relays information from point 1 to Recruiter and New company. If acceptable all is good.

3) If Point 2 is not acceptable then there has to be a discussion to come to a reasonable arrangement between both employers.

Usually Swiss contracts just state the notice period but do not state any amount that needs to be compenstated in Lieu OF. Of course in some situations the contract states that the candidate has to return things such as Joining Bonus, Part of the Relocation costs etc.. which he was offered when starting with the his current employer if leaves in XX months. (Usually 12 - 24 months)

Hope this helps.

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Hi all,

I work as a recruitment consultant and currently have a candidate who is employed in Switzerland but looking to accept a job offer in the US. The American employer wants him over there in a month, but the candidate's contract states that he is bound by a three month notice period. So, the American employer has offered to buy out his contract.

I have reviewed his contract, and there is no clause stating what should be done under this circumstance, and (forgive me ) but my sketchy German didn't catch anything in the Swiss Code of Obligations advising what to do, either.

Does anyone have experience of this situation or can advise a way forward? If there is no minimum amount stated in the contract (such as compensation matching the candidate's monthly salary)...is there another required minimum or will it be decided between the parties?
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