What compensation amount is linked to loss suffered and determined as just and equitable by a tribunal?

The compensation amount that is linked to the loss suffered, and determined as just and equitable by a tribunal, is known as a compensatory award. This type of award is designed to make an injured party whole by providing monetary compensation that corresponds to the actual loss they have experienced. In employment law contexts, a compensatory award typically considers various factors, including lost wages, benefits, and any emotional distress the individual may have endured due to the wrongful action taken against them.

This notion of just and equitable compensation underscores that the tribunal assesses the specific circumstances of the case, taking into account the precise nature of the loss and the context in which it occurred, ensuring that the compensation reflects what is fair and reasonable under the given conditions.

In contrast to compensatory awards, the other terms mentioned have distinct meanings. The basic award, for example, usually refers to a minimum level of compensation often established by statute, while damages for wrongful dismissal refer specifically to losses that arise from an unjust termination of employment. Redundancy payment relates to entitlements provided to employees who are let go due to redundancy rather than performance or conduct issues. Hence, the focus on "loss suffered" and the emphasis on equitable determination clearly align with the concept of a compensatory award.