A Distributor Settlement Agreement becomes necessary when parties decide to end their distribution relationship, whether through mutual agreement or due to disputes. This document, governed by English and Welsh law, provides a comprehensive framework for unwinding the relationship while protecting both parties' interests. It typically includes provisions for financial settlements, inventory management, customer transitions, and mutual releases. The agreement ensures compliance with UK commercial law and helps prevent future disputes by clearly documenting the termination terms.
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1. Parties: Identification of the contracting parties with full legal names and addresses
2. Background: Context of the settlement, including reference to the original distribution agreement and disputes
3. Definitions: Key terms used throughout the agreement
4. Settlement Terms: Core settlement provisions including payment terms and mutual releases
5. Termination Provisions: Terms regarding the termination of the original distribution agreement
6. Confidentiality: Obligations regarding confidential information
7. Governing Law and Jurisdiction: Specification of English and Welsh law and courts
1. Transition Arrangements: Details of handover process for complex distribution relationships, used when there's ongoing business to transfer
2. Stock Buy-back: Terms for handling remaining inventory, used when distributor holds remaining stock
3. Post-Termination Restrictions: Non-compete and other restrictive covenants, used when protecting market position is crucial
1. Schedule 1: Settlement Payment Details: Detailed breakdown of settlement amounts and payment terms
2. Schedule 2: Inventory List: List of remaining stock and agreed handling procedure
3. Schedule 3: Customer Transfer List: Details of customers to be transferred or retained
4. Appendix A: Release Form: Form of mutual release to be executed by parties
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