In our second instalment of our corporate transaction series, we look at the vital role that the due diligence process plays in making a success of any transaction. Having made the decision to acquire a business, the buyer will want to maximise the...
Commercial Agents (Council Directive) Regulations 1993 (the "Commercial Agents Regulations") govern contracts between principal and agent. In certain instances this is the preferred relationship between parties for the provision of sales and marketing services by self-employed agents on behalf of the principal company.
The establishment of a formal agency relationship can be an important step, but could carry financial burden if the agency agreement is not drafted carefully and the relationship is not monitored on a regular basis. When drafting such an agreement, matters for consideration include the parties' status, commission, territory, term/termination provisions, restrictive covenants and importantly the issue of compensation or indemnity payments following early non-breach termination.
If your business requires either a new contract or a review of its existing agreement, or if you are an agent working for a principal, we can provide assistance. For further information on the services we offer, please do not hesitate to contact Jonathan Craig, Head of BakerLaw's Company Commercial Department at firstname.lastname@example.org or telephone 01252 730 754.