Article 50 — Termination of Agency Agreement

1/ An agency agreement shall terminate: a) where the period of time for which it was entered into expires; b) where the agent dies, becomes incapable or is declared bankrupt; c) where the business organization acting as agent is wound-up; d) In the absence of a contrary agreement, where the principal becomes bankrupt, incapable, dies or is declared absent. 2/ Either party to an agency agreement made for an undefined period of time may terminate it on notice. Notice need not be given where there is good cause for termination. 3/ The period of notice shall be fixed in the agency agreement or, where not so fixed, by custom. It shall not be less than one month during the first year of service and not less than two months after the first year.