A Del Credere Agent Agreement is a specialized commercial contract used when a business (principal) wants to appoint an agent who will not only facilitate sales but also guarantee the creditworthiness of the customers they bring in. This type of agreement is particularly relevant in the Indian market where credit risks need to be managed effectively while expanding business operations. The document encompasses crucial elements including the scope of agency, commission structures, guarantee mechanisms, and risk management procedures, all aligned with Indian legal requirements including the Indian Contract Act, 1872, and relevant commercial laws. It's commonly used in wholesale trade, manufacturing, and distribution sectors where the principal wants to expand their market reach while minimizing credit risk through the agent's guarantee.
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1. Parties: Identification of the Principal and the Del Credere Agent with complete legal details
2. Background: Context of the agreement, nature of the principal's business, and purpose of appointing a del credere agent
3. Definitions: Key terms including 'Territory', 'Products', 'Customers', 'Del Credere Commission', 'Guarantee Obligations'
4. Appointment and Scope: Terms of appointment, exclusivity (if any), and territorial scope of the agent's authority
5. Del Credere Agent's Obligations: Core responsibilities including sales promotion, customer vetting, payment guarantee, and reporting duties
6. Guarantee Provisions: Specific terms of the payment guarantee, including extent of liability and trigger events
7. Commission Structure: Basic commission rates and additional del credere commission for guarantee role
8. Payment Terms: Terms for commission payment, guarantee obligations, and related financial arrangements
9. Customer Relations: Guidelines for managing customer relationships, credit checks, and payment collection
10. Term and Termination: Duration of agreement, renewal terms, and termination provisions
11. Post-Termination Obligations: Continuing guarantee obligations and commission payments after termination
12. Confidentiality: Protection of confidential information and trade secrets
13. Governing Law and Jurisdiction: Application of Indian law and jurisdiction for dispute resolution
1. Non-Compete: Restrictions on agent's ability to represent competing principals, used when exclusivity is important
2. Insurance: Requirements for professional indemnity or credit insurance, important for high-value transactions
3. Bank Guarantee: Additional security requirements, used for high-risk or high-value arrangements
4. Sub-Agents: Terms for appointment and management of sub-agents, relevant for large territories
5. Intellectual Property: IP usage rights and restrictions, important when agent will use principal's branding
6. Force Majeure: Provisions for unforeseen circumstances affecting performance, particularly relevant for international trade
7. Training and Support: Principal's obligations to provide product training and sales support, important for technical products
1. Territory Description: Detailed description of geographical areas covered by the agreement
2. Product List: Comprehensive list of products/services covered, with specifications and pricing
3. Commission Rates: Detailed commission structure including basic and del credere commission rates
4. Approved Customer List: List of pre-approved customers and their credit limits
5. Reporting Templates: Standard formats for sales reports, customer credit assessments, and financial reporting
6. Operating Procedures: Detailed procedures for credit checks, order processing, and payment collection
7. Service Level Standards: Performance metrics and service level requirements
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