Within the European Union, there is legislation to offer agents some protection, in particular the right to compensation in certain circumstances when an agency is dismissed. The same is true in other parts of the world, and in some countries it is necessary for a foreign manufacturer to designate as a representative an individual or company that is a national of the country in which the Agency will operate. BIMCO and FONASBA, the global organization representing ship brokers and agents, have once again partnered to create and launch a new general agency contract for port agents, shipowners and ship operators who use port agency services. In some circumstances, if the ownership or management of the agent changes in the agency`s activities, this may also be grounds for termination, even if a competitor of the provider purchases the agent. The duration of the agreement is set out here. Often, there is a fixed period of a year or two, and then an annual extension. Where this proposal is used as a cross-border agreement, the contracting authority should have the text checked by a lawyer in the territory of the agent, even if the contracting authority wishes to use the law of its own country as the law of the contract in force. While local law may be relevant to terminate the appointment of an agent, our clause gives the client the right to terminate for breach of contract, bankruptcy or failure to achieve the minimum objectives. What is the purpose of this representation agreement? A company that wants a representative to be able to seek tendering opportunities in another country can use this representation agreement. The representative is probably a company in. The agent may not compete with the activities of the client during and for a specified period after the end of the agency.
Author of the contract – Giles Dixon is a lawyer with several years of experience in designing cross-border agency and distribution agreements and co-author of Exporting Made Easy, a simple guide for exporters. Many States apply the rule of equal dignity, according to which the agency contract must be in writing if the subsequent contract must be in writing anyway, for example. B a contract for the purchase of goods worth thousands of dollars.. . .