If you’ve been keeping up with the news this week, it will have been difficult to miss the furore which has ensued following the closing of hundreds of KFC restaurants up and down the country. The cause of this – reportedly costing the chain...
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 email@example.com or telephone 01252 730 754.