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Termination Of Agency Agreement
"Need a Termination of Agency Agreement to end a five-year commercial agency relationship with our European sales agent, effective March 1, 2025, including compensation calculations and provisions for transferring customer relationships to our new agent."
1. Parties: Identification of the Principal and Agent with full legal names and addresses
2. Background: Brief description of the existing agency relationship and reason for termination
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date when the agency relationship will end
5. Outstanding Payments: Settlement of commission and other payments due
6. Return of Property: Provisions for return of materials, documents, and equipment
7. Confidentiality: Ongoing obligations regarding confidential information
1. Compensation/Indemnity: Required for commercial agents under the Commercial Agents Regulations - includes calculations and payment terms
2. Post-Termination Restrictions: Non-compete and non-solicitation provisions to protect business interests
3. Handover Provisions: Detailed process for transferring ongoing business and client relationships
4. Intellectual Property: Provisions regarding use and transfer of IP rights post-termination
1. Schedule of Outstanding Commissions: Detailed list of pending commissions and payment schedule
2. Schedule of Property to be Returned: Inventory of all items to be returned to the principal
3. Schedule of Ongoing Contracts: List of contracts that need to be transferred or managed
4. Data Transfer Protocol: Procedures for handling customer data transfer in compliance with GDPR
Authors
Agent
Business Day
Commencement Date
Compensation
Confidential Information
Customer Data
Effective Date
Intellectual Property Rights
Notice Period
Outstanding Commissions
Principal
Products
Property
Services
Territory
Termination Date
Trade Secrets
Working Hours
Associated Company
Business
Commission
Customers
Group
Original Agreement
Parties
Representatives
Settlement Sum
Termination Notice
Outstanding Payments and Commission
Final Accounts Settlement
Return of Property
Handover of Business
Confidentiality
Data Protection
Intellectual Property Rights
Post-Termination Restrictions
Non-Competition
Non-Solicitation
Compensation or Indemnity
Release and Waiver
Continuing Obligations
Customer Transfer
Records and Documentation
Third Party Rights
Entire Agreement
Governing Law
Jurisdiction
Force Majeure
Notices
Severability
Assignment
Variation
Further Assurance
Costs
Counterparts
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