The Commission Draw Agreement is essential for businesses operating in England and Wales that employ commission-based sales staff. This document provides a structured framework for managing regular draw payments against future commissions, ensuring both parties understand their rights and obligations. It is particularly valuable when businesses want to provide their sales staff with consistent income while maintaining a commission-based incentive structure. The agreement typically includes commission rates, draw amounts, reconciliation periods, and repayment terms, while ensuring compliance with UK employment and wage legislation.
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1. Parties: Identifies and defines the contracting parties
2. Background: Sets out context and purpose of the agreement
3. Definitions: Defines key terms used throughout the agreement
4. Commission Structure: Details base commission rates and calculation methods
5. Draw Mechanism: Explains how draw payments work and reconciliation process
6. Payment Terms: Specifies timing and method of payments
7. Repayment Obligations: Details when and how draws must be repaid
8. Term and Termination: Duration of agreement and termination provisions
1. Performance Targets: Sets sales or performance goals - include when commission rates vary based on performance
2. Territory/Client Allocation: Defines geographical or client coverage - include when salesperson has specific territory or client restrictions
3. Non-Competition: Restricts competitive activities - include when protecting business interests is crucial
4. Clawback Provisions: Recovery of commission in specific circumstances - include when dealing with cancelled or refunded sales
1. Commission Rate Card: Detailed breakdown of commission rates and tiers
2. Draw Calculation Examples: Illustrative examples of draw calculations and reconciliation
3. Territory Map/Client List: Visual or listed representation of coverage area or clients
4. Performance Metrics: Detailed performance targets and measurement criteria
Relevant legal definitions
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