Termination Of Agency Contract Template for Austria

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Key Requirements PROMPT example:

Termination Of Agency Contract

"I need a Termination of Agency Contract for mutually agreed termination of our pharmaceutical sales agency in Austria, with an effective date of March 1, 2025, including provisions for handling ongoing clinical trials and commission calculations for pipeline deals."

Document background
The Termination of Agency Contract is a crucial document used when ending commercial agency relationships in Austria. It's specifically designed to comply with the stringent requirements of Austrian law, particularly the Handelsvertretergesetz (HVertrG) and related EU regulations. This document becomes necessary when either the principal or commercial agent wishes to end their business relationship, whether by mutual agreement or unilateral decision. It must address mandatory elements such as the agent's compensation claim (Ausgleichsanspruch), treatment of ongoing transactions, and post-contractual obligations. The agreement is particularly important in the Austrian business context, where commercial agents enjoy significant statutory protections, and proper termination documentation is essential for legal compliance and risk management.
Suggested Sections

1. Parties: Identification of the Principal and the Commercial Agent, including full legal names, registration numbers, and addresses

2. Background: Brief description of the existing agency relationship, reference to the original agency agreement, and its key dates

3. Definitions: Key terms used in the termination agreement, including references to the original agreement's definitions where applicable

4. Termination: Clear statement of termination, effective date, and compliance with notice periods under HVertrG

5. Ongoing Transactions: Treatment of transactions in progress, including commission arrangements for deals in pipeline

6. Final Accounting: Provisions for final commission calculations, payment terms, and deadline for final settlement

7. Compensation Claim: Acknowledgment and settlement of the agent's statutory compensation claim under § 24 HVertrG

8. Return of Materials: Obligations regarding return of business materials, documentation, and company property

9. Confidentiality: Ongoing obligations regarding confidential information and trade secrets

10. Governing Law: Confirmation of Austrian law application and jurisdiction

Optional Sections

1. Post-Termination Non-Compete: Include when parties agree on post-contractual competition restrictions, ensuring compliance with Austrian competition law

2. Customer Transfer: Include when specific arrangements are needed for transferring customer relationships back to the principal

3. Mutual Release: Include when parties wish to waive future claims against each other, except for those that cannot be waived under Austrian law

4. Data Protection: Include when specific arrangements are needed for handling personal data post-termination

5. Third Party Rights: Include when there are sub-agents or other third parties whose rights need to be addressed

6. Severability: Include when parties want to ensure partial invalidity doesn't affect the entire agreement

Suggested Schedules

1. Schedule 1 - Ongoing Transactions: List of pending transactions and their status at termination date

2. Schedule 2 - Commission Calculation: Detailed breakdown of final commission calculations and any agreed adjustments

3. Schedule 3 - Company Materials: Inventory of all materials to be returned to the principal

4. Schedule 4 - Customer List: List of customers and status of their accounts/relationships

5. Appendix A - Original Agency Agreement: Copy of the original agency agreement being terminated

6. Appendix B - Final Settlement Statement: Detailed financial statement showing all final payments and settlements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Manufacturing

Wholesale Trade

Retail

Insurance

Real Estate

Financial Services

Technology

Pharmaceuticals

Industrial Equipment

Consumer Goods

Automotive

Chemical Industry

Construction Materials

Agricultural Products

Medical Devices

Relevant Teams

Legal

Sales

Commercial

Compliance

Business Development

Operations

Contract Management

Distribution

Executive Leadership

Risk Management

Relevant Roles

Commercial Director

Sales Director

Legal Counsel

Business Development Manager

Contract Manager

Compliance Officer

Chief Executive Officer

Managing Director

Sales Operations Manager

Distribution Manager

Agency Relations Manager

General Counsel

Head of Commercial

Chief Commercial Officer

Regional Sales Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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