The right of the agent to request for equalization

The agent is an independent assistant to the merchant, who operates to market the products and services out of the premises in a wider domain. Thanks to efforts and activities of the agent towards this end the products and services are introduced to and sold at the national and international markets, and a wider portfolio of customers is established. However, upon termination of the agency agreement, the principal will benefit from such portfolio of customers established by the agent. In another words, the principal continues to benefit from the customer portfolio of the agent and have economical gains by continuing a commercial relationship with such portfolio even if the agency agreement terminates. Especially in cases when the agency agreement is terminated for reasons where the agent is not at fault, a compensation payment to the agent for its customer portfolio is required for justice. This compensation forms the agent?s request for equalization.The agent?s request for equalization is regulated by the Mercantile Law in effect but there is a legal loophole in this matter. The insurance agents? right of request for equalization is regulated by paragraph 16 of article 23 of Code 5684 related to Insurance Businesses. Content of this clause, however, does not eliminate the existing loophole. The agent?s right of request for equalization is regulated in article 122 of Turkish Mercantile Law Proposal by considering this deficiency and the current applicable needs.The agent?s such request forms the topic of our thesis with its legal nature, conditions, content, calculations and other characteristics. The referred request is examined in three chapters by considering current regulations, Turkish Mercantile Law Proposal, and related clauses of foreign countries? laws.Based on the results of our study, some of the basic conditions related to equalization that might be requested upon termination of an agency agreement are as follows:1.Termination of the agency should happen in a way that will allow request for equalization,2.The principal should have future benefits from the customer portfolio that was established by the agent even after termination of the agreement,3.The agent should have losses,4.The principle of justice should require that the agent be paid equalization compensation.Calculation of the agent?s equalization value, irrevocability of equalization request, expiration time and other similar characteristics are also examined in our study. Topics such as characteristics of the insurance agents? equalization request and differences of such request and other agents? equalization requests form the last chapter.