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The Limited Agency Agreement is a crucial legal instrument in New Zealand business operations where a principal needs to delegate specific, limited authority to an agent. This document is essential when businesses want to appoint representatives with carefully restricted powers, whether for sales, procurement, or other business activities. The agreement complies with New Zealand legal requirements and typically includes detailed sections on the scope of authority, remuneration, reporting requirements, and termination provisions. It's particularly useful in situations where the principal wants to maintain control while allowing an agent to perform certain defined functions, making it distinct from broader agency agreements that might grant more comprehensive powers.

1. Parties: Identifies and provides full details of the Principal and the Agent, including their legal names, addresses, and company registration numbers if applicable

2. Background: Sets out the context of the agreement, including the Principal's business and reason for appointing the Agent

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules for interpreting the document

4. Appointment and Scope: Clearly defines the specific and limited nature of the agency appointment, including any territorial or product restrictions

5. Duration: Specifies the term of the agreement, including start date and whether it's fixed-term or ongoing

6. Agent's Powers and Limitations: Explicitly states what the Agent can and cannot do on behalf of the Principal

7. Agent's Duties and Obligations: Details the specific responsibilities and standards of conduct expected from the Agent

8. Principal's Obligations: Outlines what the Principal must do to enable the Agent to perform their duties

9. Remuneration: Details the fee structure, commission rates, and payment terms

10. Reporting Requirements: Specifies what reports the Agent must provide and their frequency

11. Termination: Sets out the circumstances under which either party can end the agreement

12. Confidentiality: Establishes obligations regarding confidential information

13. General Provisions: Standard boilerplate clauses including notices, governing law, and dispute resolution