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Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Guidelines for Drafting Agreement of Sole Selling Agency by a Public Limited Company:
Identification of Parties:
Clearly identify the public limited company appointing the sole selling agent and the agent being appointed, providing their full legal names, addresses, and contact details.
Scope of Agency:
Define the specific products or services covered by the agency agreement and specify the territory or market segment assigned to the sole selling agent.
Term and Termination:
Clearly outline the duration of the agency agreement and specify conditions under which either party can terminate the agreement. Include provisions for renewal if applicable.
Compensation and Commission:
Clearly articulate the compensation structure, including commission rates, payment terms, and any additional allowances or expenses reimbursed to the sole selling agent.
Duties and Responsibilities:
Define the roles and responsibilities of the sole selling agent, including sales targets, reporting mechanisms, and marketing efforts.
Confidentiality and Non-Compete:
Include clauses to safeguard the company's confidential information and restrict the sole selling agent from engaging in competing activities during and after the agreement.
Common Mistakes to Avoid:
a. Ambiguous Terms: Ensure clarity in all provisions to prevent misunderstandings.
b. Incomplete Compensation Details: Clearly define the compensation structure to avoid disputes.
c. Vague Termination Clauses: Clearly outline conditions for termination to prevent disputes.
d. Neglecting Legal Compliance: Ensure the agreement complies with relevant laws and regulations.
This agreement is commonly used in various industries where a public limited company appoints a sole selling agent to promote and sell its products or services. It is crucial to involve legal professionals to ensure compliance and protect the interests of both parties.