Agency Agreements
What is an agency agreement?
An agency agreement sets out the terms on which one party is authorised to act on behalf of the other party in certain matters (often in contract negotiations in return for a commission of sales made). It will set out the scope of the agent’s authority and responsibilities. Agency agreements are subject to legal regulations in the UK, we can help you understand the impact on your business.
When would you need an agency agreement?
An agency agreement is key when needing to distinguish the agency relationship from a distributor relationship. Where there is no written agreement, it may not be clear what the role of each of the parties is. There are further advantages:
Business expansion: you may be able to expand your business without significant further investment.
Foreign expertise: you may not be able to enter a foreign territory without an agent (both from a expertise and local law perspective).