Office Machine and Equipment Dealers' Equity Act

Summary

Office Machine and Equipment Dealers' Equity Act - Title I: Contracts Between Dealers and Suppliers - Declares that any supplier of office products who enters into a dealer agreement shall act in good faith in: (1) entering into the agreement; (2) performing any provision of the agreement; and (3) terminating the agreement. Title II: Procedures for Termination - Allows a supplier to terminate a dealer agreement before a specified expiration date (or at any time if the agreement does not contain an expiration date) by offering the dealer, within 60 days of the intended termination, fair and reasonable compensation for the value of the agreement. Permits the parties to resort to binding arbitration to determine the amount of compensation. Title III: Miscellaneous Provisions - Grants a dealer the right to file an action for damages in Federal district court for violations of this Act. Declares that such action must be filed within three years after the right accrues. States that no provision of this Act repeals, modifies, or supersedes any provision of the antitrust laws.

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1 official file

• Introduced in Senate

  summary · EN · 20 March 1985

  Open at official source

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