Agency Agreement for A Sole Agent
A Sole Agency Agreement Covers:-
Agency Agreement when company appoints the agent as its sole or exclusive agent for the purchase of all goods.
A sole agency agreement is similar to an exclusive agency agreement. You give rights to one agent to sell the property but you may find a buyer yourself. If you find a buyer who has not been introduced by the agent, then no commission is payable to the agent.
Agency Agreement for a Sole Agent Includes terms covering:
- Appointment of Agent
- Duties of agents
- No purchase through company
- Shipment of goods
- Payment by company
- Alternative payment clause
- Repayment of expenses
- Summary determinations
- Obligation to be imposed on purchasers
- Purchases by agents on own account
- Terms not to be included in contracts negotiated by agents
- Law applicable
The difference between an exclusive agency and a sole agency is the entitlement of the selling agent to receive an agreed commission or other reward on the sale of the property. … Where the agency is a sole agency, the agent would not be entitled to the commission if the seller is the effective cause of the sale
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