Code of Virginia

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Code of Virginia
Title 59.1. Trade and Commerce
Chapter 37. Contracts; Independent Sales Representatives

§ 59.1-455. Definitions.

As used in this chapter, unless the context requires a different meaning:

"Commission" means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the total dollar amount of orders or sales or as a specified amount per order or per sale.

"Principal" means a person who manufactures, produces, imports or distributes a product for wholesale and who contracts with a sales representative to solicit orders or sales for such product and compensates the sales representative, in whole or in part, by commission.

"Sales representative" means a person other than an employee who contracts with a principal to solicit wholesale orders or sales and who is compensated, in whole or in part, by commission, but shall not include a person who purchases exclusively for his own account for resale.

1993, c. 736.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.