Termination Of Sales Representative Agreement for Singapore

Termination Of Sales Representative Agreement Template for Singapore

A legal document governed by Singapore law that formally terminates an existing sales representative agreement between a principal company and its sales representative. The document outlines the terms of separation, including termination date, final commission payments, return of company property, ongoing confidentiality obligations, and any post-termination restrictions. It ensures compliance with Singapore's contract law, employment regulations, and agency principles while providing clear terms for concluding the business relationship.

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What is a Termination Of Sales Representative Agreement?

The Termination Of Sales Representative Agreement is utilized when a company needs to formally end its relationship with a sales representative in Singapore. This document is crucial for businesses operating under Singapore's legal framework, particularly when managing their sales force and distribution networks. It addresses key aspects such as final settlements, handover procedures, and post-termination obligations while ensuring compliance with local agency and contract laws. The agreement helps protect both parties' interests by clearly defining the termination terms, outstanding payments, and ongoing obligations regarding confidentiality and customer relationships.

What sections should be included in a Termination Of Sales Representative Agreement?

1. Parties: Identification of contracting parties and their details

2. Background: Context of the agreement and reason for termination

3. Definitions: Key terms used tHRoughout the agreement

4. Termination Date: Effective date of termination and notice periods

5. Final Payments: Settlement of outstanding commissions and payments

6. Return of Property: Process for returning company property and materials

7. Confidentiality Obligations: Ongoing confidentiality requirements post-termination

What sections are optional to include in a Termination Of Sales Representative Agreement?

1. Transition Period: Terms for handover period when there's a need for smooth transition of accounts

2. Non-Compete Provisions: Restrictions on future competitive activities when protecting market share is crucial

3. Dispute Resolution: Specific procedures for resolving disputes when parties want to specify alternative dispute resolution methods

4. Customer Communication: Terms for notifying customers about the termination when managing customer relationships is crucial

What schedules should be included in a Termination Of Sales Representative Agreement?

1. Schedule of Outstanding Commissions: List of pending commissions and payment schedule

2. Company Property Inventory: List of items to be returned to the company

3. Customer Account List: List of customers managed by the representative

4. Termination Calculation Sheet: Detailed breakdown of final payments and deductions

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

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Free to use

Relevant legal definitions

Clauses

Relevant Industries

Retail
Manufacturing
Technology
Pharmaceuticals
Financial Services

Relevant Teams

Sales
Legal
Human Resources
Finance
Operations
Compliance

Relevant Roles

Sales Director
Commercial Manager
Business Development Manager
Legal Counsel
HR Manager

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What is a Termination Of Sales Representative Agreement?

What sections should be included in a Termination Of Sales Representative Agreement?

What sections are optional to include in a Termination Of Sales Representative Agreement?

What schedules should be included in a Termination Of Sales Representative Agreement?

Authors

Alex Denne

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