The Agency Agreement is a crucial commercial document used when one party wishes to appoint another to act on their behalf in Singapore. This agreement type is particularly important in Singapore's business environment, where agents frequently facilitate international trade and local business operations. The document typically includes detailed provisions on authority scope, territory restrictions, commission structures, and compliance with Singapore's regulatory requirements. Agency Agreements are essential for protecting both principals and agents while ensuring clear accountability and risk allocation in the agency relationship.
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1. Parties: Identification and details of the principal and agent
2. Background: Context and purpose of the agency relationship
3. Definitions: Key terms used throughout the agreement
4. Appointment: Scope and nature of agency appointment
5. Agent's Rights and Obligations: Core duties and rights of the agent
6. Principal's Rights and Obligations: Core duties and rights of the principal
7. Commission/Remuneration: Payment terms and calculation method
8. Term and Termination: Duration and termination provisions
1. Territory: Geographic scope of agency, used for territorial restrictions
2. Non-Competition: Restrictions on competitive activities, if applicable
3. Performance Targets: Specific targets or KPIs, if performance-based
4. Marketing and Promotion: Marketing obligations, if relevant to agency scope
5. Insurance: Insurance requirements, if specific coverage needed
1. Commission Schedule: Detailed breakdown of commission structure and calculations
2. Territory Schedule: Detailed description of geographical territory
3. Products/Services Schedule: List of products/services covered by agency
4. Performance Metrics: Detailed KPIs and measurement criteria
5. Agency Procedures Manual: Operational procedures and guidelines
Relevant legal definitions
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