What is Terminating a Distribution Agreement ?
Terminating a Distribution Agreement could be necessary when a distributor and a manufacturer develop differences. The distributor’s operation is supported by the manufacturer’s revenue. The distributor and manufacturer must agree on how the products will be transported and how much the manufacturer will be charged for this service. The parties may decide to terminate the distribution agreement and enter into a new agreement, end the partnership, or both when these obligations become unmanageable.
Why use Terminating a Distribution Agreement ?
Many distribution agreements have a provision that permits one or both parties to end the agreement without incurring any legal repercussions. The reasons for termination, the amount of prior notice required, and any monetary compensation one party would be required to pay are frequently listed in a termination clause. The clause must include any termination dates as well as if the agreement will end immediately if one or more of its specific terms are broken.
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