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Legal Terms - commercial agent
a *agent who, on behalf of a principal, approaches possible clients for business. Many commercial agents' contracts in the EU are governed by Directive 86/653, which implies additional terms into the agreements, such as those pertaining to commission payments and notice periods for agreement termination, and grants them significant rights to compensation or indemnity upon termination of the agency agreement. The Commercial Agents (Council Directive) Regulations 1993, as modified, implement this directive in Great Britain. Northern Ireland has regulations that are comparable to these.
a *agent who, on behalf of a principal, approaches possible clients for business. Many commercial agents' contracts in the EU are governed by Directive 86/653, which implies additional terms into the agreements, such as those pertaining to commission payments and notice periods for agreement termination, and grants them significant rights to compensation or indemnity upon termination of the agency agreement. The Commercial Agents (Council Directive) Regulations 1993, as modified, implement this directive in Great Britain. Northern Ireland has regulations that are comparable to these.
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