Negotiating Dealership Agreements-Session Recording

Video Transcription

Video Summary

In this video presentation, James Waite, a business lawyer with over 20 years of experience in the equipment industry, discusses the negotiation and documentation of dealership agreements. He highlights the importance of dealership relationships, noting the heavy reliance both parties have on each other. Waite explains that dealerships tend to be in a weaker negotiating position compared to manufacturers due to factors such as financial resources and legal support. He emphasizes the need for dealers to carefully negotiate dealership agreements to protect their interests in critical areas such as pricing, territory exclusivity, parts availability, and termination rights. Waite emphasizes the significant variation in state laws regarding dealership agreements, discussing differences in coverage, notice requirements, and repurchase obligations. He advises dealerships to negotiate specific provisions in their agreements to address these issues. Additionally, Waite discusses important considerations in dealership agreements, including purchase commitments, pricing, deliveries, staffing requirements, marketing and advertising, equipment specifications, and buyback obligations. He concludes by urging dealerships to negotiate their agreements carefully to protect their business and the value of their dealership in the long term.

Keywords

dealership agreements

negotiation

territory exclusivity

termination rights

state laws

provisions

purchase commitments

equipment specifications