The Regulations oblige the agent to perform his or her responsibilities ‘dutifully and in good faith’. However, the Regulations are far more prescriptive towards the principal’s obligations. Which is why you should take legal advice before you take on an agent.
Difficulties that can arise from terminating a contract are the reason we strongly recommend having a professionally drafted agreement in place. It simply gives you more control, essential when you consider the size of some lump sum payments at the termination of contracts. Our aim is to avoid disputes, but we have acted successfully for both principals and agents in the past.
In simple terms…
‘Agent’, ‘principal’, ‘compensation’, ‘indemnity’, if you’re having trouble getting to grips with the legal terminology used, please give us a call and we’ll happily explain, in plain English.