The Termination Of Agency Agreement is essential when parties wish to formally end their commercial agency relationship in Belgium. It is typically used when either the principal or agent decides to terminate their relationship, whether by mutual consent or unilateral decision, and must comply with the Belgian Law on Commercial Agency Agreements of 1995. This document addresses crucial elements including statutory notice periods, calculation of the mandatory clientele indemnity, treatment of outstanding commissions, and post-termination obligations. It's particularly important in Belgium due to the strict protective regime for commercial agents, including mandatory compensation requirements and specific rules about notice periods. The agreement helps ensure a smooth transition while minimizing legal risks and protecting both parties' interests in accordance with Belgian law.
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1. Parties: Identification of the Principal and Agent, including full legal names and registered addresses
2. Background: Reference to the original Agency Agreement, its date, and brief context for the termination
3. Definitions: Definitions of key terms used in the termination agreement
4. Termination: Clear statement of termination, effective date, and compliance with notice requirements under Belgian law
5. Calculation of Final Compensation: Details of the clientele indemnity (goodwill compensation) and any other statutory compensation required under Belgian law
6. Outstanding Commissions: Treatment of commissions earned but not yet paid, including post-termination commission rights
7. Return of Materials: Obligations regarding the return of documentation, samples, marketing materials, and other property
8. Confidentiality: Ongoing obligations regarding confidential information
9. Final Accounts: Process for reconciliation and settlement of final accounts between the parties
10. Release and Discharge: Mutual release of claims, subject to the rights and obligations in the termination agreement
11. Governing Law and Jurisdiction: Confirmation of Belgian law as governing law and jurisdiction for disputes
1. Non-Compete Obligations: Post-termination non-compete provisions, if applicable and agreed (subject to Belgian law restrictions)
2. Transition Arrangements: Specific arrangements for transitioning customers or ongoing matters to the principal or new agent
3. Dispute Resolution: Include if specific dispute resolution mechanisms are desired beyond court jurisdiction
4. Customer Notification: Process for informing customers about the termination, if agreed between parties
5. Inventory Handling: Required if the agent holds inventory that needs to be returned or purchased
6. Outstanding Claims: Include if there are specific pending claims or disputes to be addressed
7. Tax Provisions: Specific tax-related provisions if needed based on the nature of compensation
1. Schedule 1 - Original Agency Agreement: Copy or key details of the original agency agreement being terminated
2. Schedule 2 - Compensation Calculations: Detailed calculations of final compensation, including clientele indemnity
3. Schedule 3 - Outstanding Commissions: List of pending commissions and calculation method
4. Schedule 4 - Materials for Return: Inventory of all materials to be returned to the principal
5. Schedule 5 - Customer List: List of customers and status of ongoing matters
6. Schedule 6 - Transition Timeline: Detailed timeline for implementing the termination and transition activities
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