Exclusive Agency Agreement
SUITABLE : QLD, NSW, VIC, SA, NT, TAS, WA
Exclusive Agency Agreement
Appointment of a Purchasing Agent
An Exclusive Agency Agreement is an restrictive agreement (involving a good, service, market, or territory) that binds a principal and an agent in an association under which neither can make any similar deals with the other’s competitors (for a specified period).
An Exclusive Agency Agreement that appoints a purchasing agent for the purchase of the goods. Exclusive agency clauses cover:
- Principal’s obligations
- Termination consequences
- Retention of title
- Reservation of rights
- Force majeure
- Whole agreement
- Prior agreements
- Change of address
- Joint and several
- No partnership
Approximately 12 pages
Download Exclusive Agency Agreement Template in Word Format.
An agency relationship is where one party (the agent) has the authority to enter contracts with a third party (the customer) on behalf of the second party (the principal).
An Agency Agreement occurs when the agent transacts on behalf of the principal, and the actual sales contract is between the principal and the customer. A supplier usually imposes few restrictions on agents and these normally relate to the agent’s powers to bind the supplier.
The agent is accountable for everything they do. If they incur debt, they are the debts of the principal. If they break the law, the vicarious responsibility is that of the principal.
Agency Agreements often concern agents or principals overseas. Such Agency Agreements or contracts may include terms from Incoterms. ‘Incoterms’ refers to the collection of essential international commercial and trade terms. The terms were devised in recognition of non-uniform standard trade usages between various States.
This does not represent legal advice by Precedents Online or its authors.
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