What is the termination clause in the exclusivity agreement?
Non payment will constitute as a bdocHub of contract and, at the Sellers discretion, termination of this exclusivity agreement in its entirety. In the instance of termination of this agreement all funds will remain due. Furthermore, the Seller will be permitted to seek legal remedy for the fees due.
What is an example of product exclusivity?
Examples of companies that use exclusive distribution include Apple for its high-priced and luxury products, as well as companies like Lamborghini, BMW, Rolex, and Mercedes. These companies appoint only a few distributors to cover a specific region, maintaining exclusivity in their distribution agreements.
How do you break an exclusivity agreement?
Before you take any action, its important to carefully review your contract. Pay attention to the termination clauses and make sure you understand them. In most cases, you will need to give written notice of your intention to terminate the agreement.
What is an example of exclusivity clause in a service agreement?
The Service provided by Party B in this agreement is exclusive, within the term of this Agreement, without the prior written consent of Party B, Party A shall not conclude any agreement with the third party to retain the third party to provide Party A with the service same as or similar to the Service provided by Party
What is the exclusivity clause for service agreement?
An exclusivity clause shields your software, products, or services from unwanted distribution. It grants exclusive rights to certain parties and forbids those parties from transferring permission to others. This contract clause puts you in control and protects your brand from abuse.
What happens if you break an exclusivity agreement?
If either party violates the terms of exclusivity, they could face legal action, including claims for damages. If you, as the seller, engage with other buyers during the exclusivity period, you could be liable for bdocHubing the contract.
What is the exclusivity standard clause?
Sometimes employers include exclusivity clauses in their employees contracts. These clauses are to stop the employee from either: working for another employer. working for another employer without consent.
How do you write an exclusivity clause in a contract?
How to write an exclusivity clause Voluntariness: The clause should state that both parties agreed voluntarily and without coercion. Subject of the agreement: The clause should identify what product, service, or intellectual property is the subject of exclusivity limitations.
What are the remedies for bdocHub of exclusivity agreement?
A buyer will commonly include statements in the exclusivity agreement reserving its rights to seek such remedies as an alternative, or in addition, to an indemnity payment or general damages, most notably an injunction to restrain a threatened or continuing bdocHub of the agreement by the seller.
What is the exclusivity of client clause?
An exclusivity clause means you are being asked to restrict your supply of products to just that client, industry or geographical area, depending on the details of the contract.
