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Intermediary Commission Agreement Template for Singapore

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Key Requirements PROMPT example:

Intermediary Commission Agreement

"Need an Intermediary Commission Agreement for our Singapore-based fintech company to engage sales agents in Malaysia and Indonesia, with a tiered commission structure based on transaction value and a minimum performance threshold of 100 deals per quarter."

What is a Intermediary Commission Agreement?

The Intermediary Commission Agreement is essential for businesses operating in Singapore that rely on third-party agents or representatives to facilitate transactions or generate business opportunities. This document is particularly relevant in today's interconnected business environment, where companies increasingly depend on intermediaries to expand their market reach. The agreement, governed by Singapore law, provides a comprehensive framework for commission-based relationships, including detailed commission structures, performance metrics, territorial rights, and compliance with local regulations. It serves as a crucial tool for protecting both parties' interests while ensuring clarity in their business relationship.

What sections should be included in a Intermediary Commission Agreement?

1. Parties: Identification and details of the principal and intermediary

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope: Terms of appointment and scope of intermediary services

5. Commission Structure: Detailed breakdown of commission rates and calculation methods

6. Payment Terms: Terms and conditions for commission payments

7. Obligations of Parties: Responsibilities of both principal and intermediary

8. Term and Termination: Duration of agreement and termination provisions

9. Governing Law: Specification of Singapore law as governing law

What sections are optional to include in a Intermediary Commission Agreement?

1. Non-Competition: Restrictions on competitive activities - include when protecting market position is crucial

2. Intellectual Property: Protection of IP rights - include when IP assets are involved in the intermediary relationship

3. Force Majeure: Provisions for unforeseen circumstances - include for long-term or high-value relationships

4. Insurance: Insurance requirements - include when significant risks are involved in the intermediary services

What schedules should be included in a Intermediary Commission Agreement?

1. Commission Rate Schedule: Detailed breakdown of commission rates for different services or products

2. Territory Schedule: Definition of geographical areas covered by the agreement

3. Service Level Agreement: Specific performance metrics and standards

4. Reporting Templates: Standard forms for activity and commission reporting

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses






























Industries

Contract Law (Chapter 2): Primary legislation governing contract formation, enforcement, and remedies in Singapore

Civil Law Act (Chapter 43): Fundamental legislation governing civil matters including contractual relationships and obligations

Commercial Agents Regulations: Regulations specifically governing commercial agency relationships and termination rights

Competition Act (Chapter 50B): Legislation ensuring fair competition and preventing anti-competitive practices in commercial relationships

Agency Law: Common law principles governing agency relationships, including fiduciary duties, rights and obligations of principals and agents

Securities and Futures Act: Regulatory framework for financial products and securities trading, relevant if dealing with financial intermediary services

Payment Services Act 2019: Legislation governing payment services and payment system operators in Singapore

MAS Regulations: Regulatory requirements set by the Monetary Authority of Singapore for financial services and intermediaries

Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data in commercial relationships

AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations for business transactions

Consumer Protection (Fair Trading) Act: Legislation protecting consumer interests and ensuring fair trading practices

Goods and Services Tax Act: Tax legislation governing GST obligations on commission payments and services

Income Tax Act: Legislation governing taxation of income, including commission payments

Withholding Tax Requirements: Regulations regarding withholding tax obligations on commission payments to intermediaries

Industry-Specific Regulations: Sector-specific regulatory requirements depending on the industry (e.g., real estate, insurance, financial services)

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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