The Sourcing Fee Agreement is a crucial document used when businesses engage external expertise to identify and secure goods, services, or business opportunities. This agreement, governed by South African law, is particularly relevant in today's complex supply chain environment where companies increasingly rely on specialized sourcing agents to access new markets, suppliers, or opportunities. The document typically includes detailed fee structures, which may be fixed, performance-based, or a combination of both, and ensures compliance with South African commercial and financial services regulations. It's commonly used when companies need to formalize their relationship with sourcing agents, establish clear performance metrics, and protect both parties' interests while maintaining transparency in the procurement process.
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1. Parties: Identifies and provides full details of the contracting parties - the sourcing agent/company and the client
2. Background: Explains the context of the agreement, including the client's need for sourcing services and the agent's capability to provide them
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules of interpretation
4. Appointment and Scope of Services: Details the formal appointment of the sourcing agent and specifies the exact services to be provided
5. Fee Structure and Payment Terms: Specifies the fees, calculation methods, payment schedules, and any additional costs
6. Duration and Termination: Specifies the term of the agreement and conditions for termination
7. Obligations of the Sourcing Agent: Details the responsibilities and duties of the sourcing agent
8. Obligations of the Client: Outlines the client's responsibilities and cooperation requirements
9. Confidentiality: Establishes confidentiality obligations for both parties
10. Intellectual Property: Addresses ownership and usage rights of any intellectual property involved
11. Liability and Indemnification: Sets out liability limitations and indemnification provisions
12. General Provisions: Includes standard clauses such as notices, entire agreement, and governing law
1. Exclusivity: Used when the sourcing agent is granted exclusive rights for specific products/services or territories
2. Performance Metrics: Include when specific performance standards or KPIs are required
3. Force Majeure: Optional clause for circumstances beyond parties' control, particularly relevant in international sourcing
4. Anti-Corruption and Compliance: Important when dealing with international sourcing or regulated industries
5. Insurance Requirements: Include when specific insurance coverage is required from either party
6. Dispute Resolution: Optional detailed procedures for handling disputes, including mediation or arbitration
7. Data Protection: Required when personal data processing is involved in the sourcing activities
8. Sub-contracting: Include when the sourcing agent may need to engage sub-contractors
1. Schedule A - Service Description: Detailed description of the sourcing services to be provided
2. Schedule B - Fee Schedule: Detailed breakdown of fees, rates, and calculation methods
3. Schedule C - Territory/Product List: Specific territories or products covered by the agreement
4. Schedule D - Performance Metrics: Detailed KPIs and performance measurement criteria
5. Schedule E - Approved Sub-contractors: List of pre-approved sub-contractors if applicable
6. Appendix 1 - Required Documentation: Lists required documentation for sourcing activities
7. Appendix 2 - Reporting Templates: Standard templates for required reports and documentation
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Retail
Technology
Construction
Mining
Agriculture
Automotive
Healthcare
Telecommunications
Energy
Financial Services
Logistics
Import/Export
Relevant Teams
Procurement
Supply Chain
Legal
Finance
Operations
Business Development
Commercial
Vendor Management
Contract Management
Risk Management
Relevant Roles
Procurement Manager
Supply Chain Director
Chief Procurement Officer
Sourcing Specialist
Vendor Relations Manager
Business Development Manager
Commercial Director
Contract Manager
Supply Chain Consultant
Purchasing Manager
Strategic Sourcing Manager
Operations Director
Chief Financial Officer
Legal Counsel
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