The Agency Representation Agreement is a crucial document used when one party (principal) wishes to appoint another party (agent) to act on their behalf in Singapore. This agreement is particularly important in the Singapore business context, where agency relationships are common in various sectors and are governed by strict legal frameworks. The document typically includes detailed provisions on authority scope, territory, commission structures, and compliance with local regulations. It serves as a comprehensive framework for managing the principal-agent relationship while ensuring adherence to Singapore's legal requirements and business practices.
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1. Parties: Details of the Principal and Agent
2. Background: Context and purpose of the agency relationship
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of appointment and scope of authority
5. Duration: Term of the agreement including commencement date
6. Duties and Responsibilities: Obligations of both parties
7. Compensation: Commission structure and payment terms
8. Termination: Conditions for ending the agreement
1. Territory: Geographic scope of authority - include when territorial restrictions apply
2. Exclusivity: Whether the appointment is exclusive - include when granting exclusive rights
3. Sub-agents: Rights to appoint sub-agents - include when sub-delegation may be needed
4. Non-compete: Restrictions on competition - include when business interests need protection
1. Commission Structure Schedule: Detailed breakdown of commission calculations and payment terms
2. Territory Map Schedule: Visual representation of geographic territory where agent is authorized to operate
3. Products and Services Schedule: Comprehensive list of products or services covered by the agreement
4. Performance Metrics Schedule: Detailed KPIs and performance evaluation criteria for the agent
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