The One Time Agency Agreement is essential for businesses and individuals operating in Hong Kong who need to delegate authority for a specific, one-off transaction or task. This document is commonly used when a principal requires an agent to perform a discrete action or represent them in a particular matter, without establishing an ongoing agency relationship. The agreement, governed by Hong Kong law, encompasses all necessary elements required by local legislation and common law principles, including clear identification of parties, specific scope of authority, duration, remuneration, and termination provisions. It's particularly relevant in today's fast-paced business environment where specialized expertise or local representation may be required for individual transactions.
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1. Parties: Identification of the Principal and Agent with full legal names and addresses
2. Background: Context of the agency appointment and brief description of the one-time transaction or task
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Express appointment of agent and detailed description of the specific task or transaction covered
5. Duration: Timeframe for the agency, including start date and completion criteria
6. Agent's Powers: Specific powers granted to the agent for the designated task
7. Agent's Duties and Responsibilities: Detailed obligations of the agent in executing the task
8. Principal's Obligations: Responsibilities of the principal, including provision of information and resources
9. Remuneration: Fee structure, payment terms, and expenses policy
10. Termination: Completion criteria and early termination provisions
11. Confidentiality: Protection of confidential information exchanged during the agency
12. Liability and Indemnity: Allocation of risks and responsibilities between parties
13. Governing Law and Jurisdiction: Specification of Hong Kong law and jurisdiction
14. Execution: Signature blocks and execution requirements
1. Insurance: Required when the agency task involves significant risks or regulatory requirements for insurance
2. Intellectual Property: Needed when the agency involves creation or handling of intellectual property
3. Non-Competition: Relevant when the agent may gain competitive advantage or sensitive market knowledge
4. Force Majeure: Optional clause for protection against unforeseen circumstances, particularly relevant for longer-duration tasks
5. Anti-Bribery and Corruption: Required when dealing with government entities or in sensitive sectors
6. Data Protection: Required when personal data processing is involved in the agency task
7. Sub-Agents: Needed when the agent may need to appoint sub-agents to complete the task
1. Schedule 1 - Scope of Services: Detailed description of the specific task or transaction to be performed
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees, commission rates, and payment terms
3. Schedule 3 - Required Documentation: List of documents and information required from principal and agent
4. Schedule 4 - Timeline and Milestones: Specific dates and deliverables for the agency task
5. Appendix A - Power of Attorney: If required, specific powers granted to the agent in legal format
6. Appendix B - Compliance Requirements: Any specific regulatory or compliance requirements applicable to the task
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