Did you know that the Equipment Dealers Association (EDA) performs legal reviews for many dealer agreements that are released by manufacturers? In fact, EDA operates the Industry Relations Fund (IRF), a fund specifically funded by dealers across North America for dealer advocacy! When a new dealer agreement is announced, EDA will attempt to engage the manufacturer in a discussion about the terms, providing the manufacturer with valuable industry insight and expertise.
After those discussions and a review of the agreement by legal counsel, a memo will be created for the affected dealer members to summarize the key changes, describe the legal rights of the members to continue with their current agreement and provide dealers with other important information that will help them make a decision on whether or not they will sign the new contract.
Recently, EDA has further enhanced this educational model for its dealer members by providing follow-up webinars to discuss the key terms of the dealer agreement and to answer dealer questions. When you receive a new dealer agreement from your manufacturer, we encourage you to contact us to see if a legal review has been conducted.
If you are a current member of EDA, I want to thank you for your continued support of the association and of the IRF. My fellow board members and I are committed to making EDA a respected and effective organization that represents your interests and needs, and we value your participation.
If you are not a member of EDA, I encourage you to join today and to begin contributing to the IRF. EDA membership and annual contributions to the IRF are two of the best investments you can make in your business and provides access to a variety of programs and services designed to assist you in your day-to-day operations.
Again, thank you for your current and future participation as an EDA member. Together, we are making a difference in our industry!
Brian Carpenter, Board Chair