AGENCY AGREEMENT APPOINTING AN AGENT
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AGENCY AGREEMENT FOR APPOINTMENT OF PURCHASING AGENT.
An agency agreement for the appointment of a purchasing agent is a contract where one party (the principal) appoints another party (the purchasing agent) to act on their behalf in acquiring goods or services. This agreement outlines the terms and conditions under which the agent will perform purchasing activities for the principal.
WHAT IS INCLUDED
An Agency Agreement that appoints a purchasing agent for the purchase of the goods. Exclusive agency clauses cover:
- Definitions
- Grant
- Principal’s obligations
- Termination
- Termination consequences
- Miscellaneous
- Retention of title
- Reservation of rights
- Interest
- Receipt
- Force majeure
- Severance
- Whole agreement
- Prior Agreements
- Discretion
- Change of address
- Notices
- Headings
- Joint and several
- No partnership
- Assignment
- Jurisdiction
12 pages and includes gst.
Common Uses
- Business Procurement: Companies use purchasing agents to handle procurement activities, especially when sourcing goods or services from multiple suppliers or international markets.
- Specialized Sourcing: Organizations may appoint purchasing agents with expertise in specific industries or product categories to ensure efficient and effective sourcing.
Advantages
- Expertise: Purchasing agents often have specialized knowledge and experience in sourcing and negotiating, which can lead to better terms and conditions.
- Efficiency: Delegating purchasing tasks to an agent can streamline the procurement process, saving time and resources for the principal.
- Access to Networks: Agents may have established relationships with suppliers and vendors, providing access to better deals and quality products.
In summary, an agency agreement for the appointment of a purchasing agent facilitates a structured approach to procurement, leveraging the agent’s expertise to manage purchasing activities efficiently while ensuring clear terms and accountability for both parties involved.
INCLUDES GST
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