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Local Agent Agreement
"Need a Local Agent Agreement for appointing a Singapore-based sales representative to distribute our medical devices, with specific performance targets and commission structure based on quarterly sales volumes, starting from March 2025."
1. Parties: Identification of principal and agent with full legal names and addresses
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of agent appointment and scope of authority
5. Territory: Geographic area where agent is authorized to operate
6. Duration: Term of the agreement including start date and renewal terms
7. Compensation: Commission structure and payment terms
8. Obligations of Agent: Agent's duties and responsibilities
9. Obligations of Principal: Principal's duties and responsibilities
10. Termination: Conditions and process for ending the agreement
1. Non-Compete: Restrictions on agent's competitive activities during and after the agreement term
2. Performance Targets: Specific sales or performance goals and consequences of meeting or missing targets
3. Training: Training requirements, procedures, and cost allocation between parties
4. Insurance: Insurance requirements and minimum coverage levels for agent
1. Schedule 1: Territory Definition: Detailed description of geographic territory and any exclusions
2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, calculations, and payment terms
3. Schedule 3: Products/Services: Comprehensive list of products or services covered by the agreement
4. Schedule 4: Performance Metrics: Detailed performance targets, measurement criteria, and reporting requirements
5. Schedule 5: Standard Operating Procedures: Detailed procedures for agent operations and compliance requirements
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