Terms Used In Maine Revised Statutes Title 10 Sec. 1343
- Commissions: means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the amount of orders or sales. See Maine Revised Statutes Title 20-A Sec. 6103
- Contract: A legal written agreement that becomes binding when signed.
- Principal: means a person, partnership, corporation or other business entity that does not have a permanent or fixed place of business in this State and that:
If a contract between a sales representative and a principal is terminated, the principal shall pay to the sales representative all commissions accrued under the contract within 30 days after the effective date of that termination. Any provision of any contract between a sales representative and a principal that purports to waive any provision of this chapter is void. [1991, c. 296, (NEW).]