A settlement agreement must be registered with the Workers Compensation Commission (WCC). Once the agreement is registered, the worker is not entitled to other weekly or lump sum payments or medical expenses. A notification is only possible if SIRA has certified that the following conditions are met: In addition, you must be entitled to ongoing weekly payments and have received regular compensation in the last six months. You can only apply for notification after the first payment. Once the contract is registered by the WCC, the insurer must pay the money: it is an agreement between the aggrieved worker, the employer and the insurer to conclude the debt with a single lump sum payment. The agreement must be certified by SIRA and registered with the Workers` Compensation Commission. A procedure is only available in situations where the workforce can meet the following criteria. A communication is where you (the employee) and the insurer accept a single lump sum payment. This payment removes the insurer`s responsibility to pay future weekly and/or medical payments, hospitalization and rehabilitation costs for the injury. The notification agreement must be registered with the WCC to be effective. For more information on communication agreements, see SIRA`s Claims Management Guide. Once your settlement agreement is registered with the WCC, you will no longer be entitled to compensation for the benefits mentioned in the agreement.
The official name of this agreement is a “computation,” and under these conditions, you are entitled to accept a one-time lump sum payment to cover all your claims, including hospital, medical and rehabilitation expenses. Before entering into a contract, you must receive independent legal advice. Legal counsel must certify in writing that you have been informed: you must also confirm in writing that you have received and understood this legal advice as part of the contractual process. A notification agreement also replaces all future weekly payments you may receive. However, while communication agreements can allow you to access workers` compensation as a lump sum and not as weekly payments, you must meet several criteria to guarantee these agreements, including: as soon as you and the insurer accept both the consultation and the amount and SIRA certifies that you have met the requirements, you can register the consultation agreement with the WCC. An injury can have a significant impact on your financial stability, especially if the incident results in a prolonged absence from your workstation. Fortunately, workers` compensation is supposed to help you cover a number of economic costs and losses, often related to workplace accidents. This article describes some of the payments you can get in NSW and the different ways you could get your compensation.