One opportunity for expanding a business might involve letting others, such as an agent, sell your products or services.
As an agent you will be involved in the sale transaction but will not be a party to the transaction. You will probably be paid a fee or receive commission.
Whatever the arrangement it is important to have the agreement recorded in writing. It should cover matters including:
- what each party has to do
- how much time has to be devoted to the role
- payment terms
- what authority the agent has
- how the agreement can be brought to an end
Without clear agency agreements, disputes can arise and you might find your arrangements covered by the Commercial Agent regulations.
At Hart Brown our specialists can help you look at your options. We will suggest whether this is the correct agreement for you or whether you need to consider a Distribution Agreement or some other supply agreement.