Non-Residential Sales Agency Agreement: What You Need to Know
A non-residential sales agency agreement is a legal contract between a company and a sales agent who agrees to represent and sell their products or services to clients on behalf of the company. This agreement outlines the specific terms of the working relationship between the company and the sales agent.
As a company offering products or services, it is important to have a sales agent who can promote and sell your offerings to potential clients. A non-residential sales agency agreement is an effective way to establish a mutually beneficial relationship with the sales agent, protect your business interests, and provide clarity on the roles and responsibilities of each party.
Here are some key components you should consider including in your non-residential sales agency agreement:
1. Territory: This outlines the specific geographic region or market that the sales agent is authorized to operate in. It`s important to be specific and clearly define the boundaries of the agent’s territory to avoid any confusion or potential conflicts.
2. Commission: This details the commission structure that the sales agent will receive for their services. Make sure to specify the percentage or amount of commission, when the commission will be paid, and any conditions or limitations associated with the commission.
3. Term: This outlines the duration of the agreement, including any renewal terms. Typically, non-residential sales agency agreements are in effect for a specific period of time, such as one year, and then can be renewed by mutual agreement.
4. Termination: This outlines the circumstances under which the agreement can be terminated, including breach of contract, failure to meet performance standards, or other reasons. It`s important to clearly define the procedures for termination, including any notice periods required.
5. Confidentiality: This outlines the obligation of the sales agent to protect the confidentiality of the company`s proprietary information, trade secrets, and other sensitive data. It`s important to include non-disclosure provisions to protect the confidentiality of the company`s business interests.
6. Indemnification: This outlines the obligation of the sales agent to indemnify the company for any losses or damages resulting from their actions or omissions, including any legal claims or liabilities.
7. Governing law: This specifies the jurisdiction and applicable law that governs the agreement and any disputes that may arise.
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