Agency Law in Spain
Implementing legislation
Law 12/1992 of 27.5.1992.
Proper notice
- 1 month if less than 1 year;
- 2 months if more than or equal to 1 year and less than 2 years;
- 3 months if more than or equal to 2 years and less than 3 years;
- 4 months if more than or equal to 3 years and less than 4 years;
- 5 months if more than or equal to 4 years and less than 5 years;
- 6 months if more than or equal to 5 years.
Indemnity or compensation or both
Indemnity for costs and expenses not amortised and incurred due to instructions from principal.
Calculation of indemnity/compensation
Capped at a maximum of the average annual commission over last 5 years or, if less than 5 years, over duration of agency.
Pre-termination commission
Yes.
Post-termination commission
Yes.
Back commission
Yes.
Other entitlements
Right to inspect principal’s books.
