Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
In order to be enforcible in court, a non-compete agreement in Colorado must be narrowly tailored to protect only the legitimate business interests of the employer. Thus, you are stating the travel business does not compete or do the same thing the business you sold does and as such it would not be in competition. Furthermore, if you are not doing business with your broker license and it is sitting there, you have not violated the non-compete as they have to prove you are actually engaging in business with that license.
Thus, your feeling sounds correct in that they seem to be trying to get out of paying you the final payment. If your travel business does not compete in the same industry as their business it would not be a violation of the non-compete or the scope of their non-compete is overly broad, which means under CO law it would not be reasonable. Also, if you are not using the broker license, merely holding it, they have to prove you are using it against them to have a successful claim in court.
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