Before entering into a contract with an agency or agent, the parties should have confidence that they have carried out the necessary due diligence audits of their potential new business partner. The apparent background checks will not only be important, including verification of references and registrations and publicly available regulatory information, but the representative or agency should also be able to have confidence in identifying and assessing the risks of all existing obligations and liabilities to third parties (particularly potential issues relating to termination or implementation of agreements). We have seen a number of litigations in the agency`s market that are related to some of the following issues (which is obviously not an exhaustive list): a sports agent is a person who procures and negotiates employment and support contracts for an athlete. In return, the agent receives a commission which is usually a percentage of the contract, although that number varies. In addition to looking for incoming sources, agents often handle public relations for their clients. In some major sports agencies, agents look at everything from investment to tax. Most agencies in our experience would prefer that their agents be assigned exclusively to them in order to maximize the business relationships and opportunities provided by the agent. However, as we see that the global agency market is becoming more accessible, agencies hire established agents in foreign legal systems and do so on custom terms. This type of relationship can benefit from a more sophisticated and/or relaxed approach to exclusivity. If the agency agreement is not exclusive, the agreement must clearly define the activities covered by the agreement and those that are not. As a starting point, there are pros and cons for temporary agreements and for rolling agreements, and the correct term depends on a number of factors, including all past transactions with the agent/company, your goals to attract the agent on board (for example.
B the agent has an existing client base with current representation relationships), and the type of relationship you want to establish with the agent. The termination provisions are the most important clauses that we name in agency contracts, because that is where there is the greatest number of disputes. While it may seem counter-intuitive when entering into an agreement, there are very important consequences if these clauses are not carefully crafted. It is not necessarily a conflict or a conflict. In our experience, clients are increasingly looking for the fairness and openness of these exit agreements to ensure a smooth transition at the end of their agreements. The key here is an open and honest and early discussion between the parties about their expectations regarding termination, especially with regard to agent/player relationships. As with any contract, it is important that the parties weigh carefully over the length of time they want and must have. This is especially important if you are entering into an agreement with a new agent or agency company. The most important contract with a sports agent is the contract between the player and the agent, also called the Standard Representation Agreement. This contract defines the terms of the agent`s representation, including fees, scope of representation, duration of representation, payment planning and how to handle agent-player disputes.