Basic Award

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Basic Award - (adjective + noun)

Definition

In the UK, you receive a financial award if you have been unfairly dismissed. This award is made up of a basic award, which is a fixed sum calculated to a statutory formula; and a compensatory award, which compensates you for the money you have lost as a result of losing your job.

Extra

Source: Adapted from CitizensAdvice UK.
Example of Use: In the UK the Citizens’ Advice Bureau has a website where you can calculate the basic award that you are owed if you have been unfairly dismissed.

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