Agency Agreement Dubai

December 1, 2020

Distribution agreements may grant exclusive or non-exclusive rights to the sale of the product to the distributor Changes to the law now provide that one of the parties to an agency agreement may seek compensation for the termination of an agency for losses or damages incurred if no compensation has been taken into account in advance for financial losses or damages suffered by a client. Compensation can be significant and complements all existing contractual rights. However, the precise calculation of compensation is not defined in the Agency Act and several factors, such as the duration of the Agency, the efforts of the representative for the promotion of goods and the net profit of the agent are taken into account when setting compensation premiums. As noted in detail in a series of previous articles in Law Update, the inclusion of a VaE agent in the Trade Agency registry (created by the Ministry of Economy) puts an agent in a very strong position. One of the main advantages of registration under the amended Federal Act No. 18 of 1981 (the “Agency Act”) is the right of the registered agent to prevent products subject to a registered agreement from being introduced into the registered territory of the representative (whether in the UAE or one or more EMIRATES). The termination of a distribution contract governed by Federal Civil Transactions Act 5 of 1985 is governed by the general principles of contract law, the compensation being paid by the aggrieved party to the innocent party in the event of an infringement. In accordance with the provisions of the UAE Agency Law, commercial agencies must comply with the following requirements regarding their nature and the nature of the agreement: distribution agreements under Federal Act 5 of 1985 are governed by the principle of contractual freedom. Therefore, there are no legal restrictions on the legal and jurisdictional decision of the parties as to their distribution relationship. However, with respect to trade agency agreements concluded pursuant to LAE Federal Law No. 18 of 1981, the parties are required to apply their contractual relationships to the jurisdiction of the United Arab Emirates Federal Courts, which will apply the federal law of the UAE. The applicant has begun to meet his obligations under the agreement; However, the respondent refrained from providing the necessary documents and continued to unilaterally affect the removal of the trade agency contract from the trade register. Franchise agreements and joint enterprise agreements, in accordance with Federal Law No.

5 of 1985 on civil transactions of the United Arab Emirates; And the effect of registering a trade agency agreement regulated by UAE Federal Law No. 18 of 1981 (the Commercial Agency Law) with the United Arab Emirates Ministry of Economy is that the commercial agent has exclusivity for the market. Under the Law Trade Agency, third parties are not permitted to import goods, products, goods, goods, materials or other goods that are the subject of a trade agency registered with the Ministry of Economy without the prior approval of the registered trade agent.

Agency Agreement Dubai · December 1, 2020 · 1:24 pm
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