Sales Representatives Protection Act

Summary

Sales Representatives Protection Act - States that the purpose of this Act is to provide a reasonable and equitable system under which sales representatives may be indemnified for commissions denied them because of wrongful terminations. Title I: Indemnification - Requires any principal to indemnify any sales representative who experiences a loss of commission income if such principal causes such loss by wrongfully: (1) taking away from such representative an account originally developed or serviced by such representative; (2) causing the amount of such representative's commission to be decreased by 25 percent or more by reducing the size of such representative's geographic territory; or (3) decreasing the rate of such representative's commission by 25 percent or more. States that such indemnification must be paid in accordance with formulae set forth in this Act. Title II: Contracts Between Sales Representatives and Principals - Sets forth provisions which must be included in any employment contract between sales representatives and their principals including: (1) rate of commission; (2) terms affecting advance payments of future compensation; and (3) a description of the sales territory. Lists duties of the principal with respect to furnishing such sales representative with information concerning his or her accounts or compensation. Title III: Miscellaneous - Sets forth procedures by which this Act may be enforced in any United States district court.

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1 official file

• Introduced in House

  summary · EN · 7 April 1976

  Open at official source

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