INTRODUCTION AGENTS ACT 2001 - SECT 55
Early termination payment by client allowed
INTRODUCTION AGENTS ACT 2001 - SECT 55
Early termination payment by client allowed
55 Early termination payment by client allowed
(1) This section does not apply if a client has ended an
introduction agreement under section 46 or 50 .
(2) Despite section 54 (2) ,
an introduction agreement may require a client to pay an amount for ending the
agreement before a stated date (not earlier than 5pm on the third clear
business day after the client receives a copy of the signed
introduction agreement).
(3) The amount must be stated in the agreement and
must not be more than the difference between— (a) the contract price for the
agreement; and
(b) the amount that the client has paid under the agreement up
to the time it is ended.
