The Termination of Dealership Agreement is a crucial document used when parties need to formally end their dealership relationship in Hong Kong's business environment. It becomes necessary when either party wishes to terminate the arrangement due to various reasons such as performance issues, strategic changes, or mutual agreement to end the relationship. The document addresses key aspects including financial settlements, inventory management, intellectual property rights, and ongoing obligations under Hong Kong law. It must comply with Hong Kong's common law system and relevant ordinances, particularly regarding contract termination, competition law, and fair trading practices. The agreement typically includes detailed provisions for managing the transition period, handling customer relationships, and protecting both parties' interests post-termination. It's essential for ensuring a smooth, legally compliant dissolution of the business relationship while minimizing potential disputes and maintaining business continuity for all stakeholders involved.
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1. Parties: Identification of the supplier/manufacturer and dealer, including full legal names and registered addresses
2. Background: Reference to original dealership agreement, its date, and brief context of the termination
3. Definitions: Definitions of key terms used in the agreement, including terms from original dealership agreement that remain relevant
4. Termination: Clear statement of termination, effective date, and basis for termination
5. Mutual Release: Release of parties from future obligations under the original agreement, subject to surviving provisions
6. Final Accounts Settlement: Process for reconciliation and settlement of all outstanding financial matters
7. Return of Property: Requirements for return of any supplier property, marketing materials, and confidential information
8. Inventory Management: Procedures for handling remaining inventory, including buyback or sell-through provisions
9. Customer Transition: Process for managing existing customer relationships and ongoing warranties
10. Intellectual Property: Cessation of IP rights and removal of supplier branding
11. Confidentiality: Ongoing obligations regarding confidential information
12. Non-Compete and Non-Solicitation: Post-termination restrictions on business activities and customer/employee solicitation
13. Surviving Provisions: Identification of provisions that survive termination
14. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement
1. Transition Assistance: Used when parties agree to a transition period to ensure smooth handover of business
2. Commission on Pending Deals: Include when there are ongoing negotiations or pending orders at termination
3. Territory Hand-back: Required when dealer had exclusive territorial rights that need formal relinquishment
4. Employee Matters: Needed if employees might be transferred or if there are employment-related obligations
5. Warranty Obligations: Include if there are ongoing warranty obligations that need special handling
6. Data Transfer: Required when substantial customer or business data needs to be transferred or protected
7. Marketing Materials: Include when there are specific requirements for handling marketing materials and campaigns
8. Third Party Contracts: Needed when dealer has entered into contracts with third parties on behalf of supplier
1. Schedule 1 - Original Agreement Details: Details of the original dealership agreement and any amendments
2. Schedule 2 - Outstanding Accounts: List of all outstanding financial matters between parties
3. Schedule 3 - Inventory List: Detailed inventory list and agreed handling procedures
4. Schedule 4 - Customer Contracts: List of existing customer contracts and warranty obligations
5. Schedule 5 - Supplier Property: Itemized list of supplier property to be returned
6. Schedule 6 - Transition Timeline: Detailed timeline for implementation of termination activities
7. Schedule 7 - Settlement Calculation: Detailed calculation of final settlement amounts
8. Appendix A - Mutual Release Form: Form of mutual release to be executed by parties
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