The Agency Fee Agreement serves as the foundational document for establishing and managing agency relationships in Singapore. It is essential when engaging agents for business activities such as sales, distribution, or representation. The agreement outlines commission structures, performance expectations, and compliance requirements while adhering to Singapore's legal framework. It protects both parties' interests by clearly defining rights, obligations, and remuneration terms. This document is particularly important given Singapore's role as a major commercial hub and its strict regulatory environment.
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1. Parties: Identification of Principal and Agent with full legal names and addresses
2. Background: Context of the agency relationship and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of agent appointment and scope of authority
5. Duties and Obligations: Responsibilities of both agent and principal
6. Commission Structure: Fee calculation, payment terms and conditions
7. Term and Termination: Duration of agreement and termination provisions
8. Governing Law: Specification of Singapore law as governing law
1. Non-Competition: Restrictions on agent's activities with competitors (used when protecting market position or sensitive information)
2. Intellectual Property: Rights and usage of trademarks, patents, etc. (used when IP rights are involved in the agency relationship)
3. Insurance: Insurance requirements for agent (used when agent activities involve risk exposure)
4. Data Protection: PDPA compliance obligations (used when personal data processing is involved)
1. Commission Schedule: Detailed breakdown of commission rates and calculation methods
2. Territory Schedule: Definition of geographical areas covered by agency
3. Products/Services Schedule: List of products or services covered by agency agreement
4. Performance Metrics: KPIs and performance evaluation criteria
5. Standard Operating Procedures: Detailed procedures for agent operations (for complex agency relationships)
Relevant legal definitions
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