Sole Agency Agreement

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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
  • Term
  • Duties of agents
  • No purchase through company
  • Shipment of goods
  • Payment by company
  • Alternative payment clause
  • Repayment of expenses
  • Commission
  • Summary determinations
  • Obligation to be imposed on purchasers
  • Purchases by agents on own account
  • Terms not to be included in contracts negotiated by agents
  • Miscellaneous
  • 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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