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.
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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."
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
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
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
Relevant legal definitions
Agreement
Applicable Law
Business Day
Commission
Confidential Information
Effective Date
Force Majeure Event
Intellectual Property Rights
Intermediary Services
Net Sales
Principal
Products
Quarter
Services
Territory
Term
Transaction
Working Hours
Year
Commission Period
Customer
Gross Revenue
Material Breach
Performance Targets
Qualifying Transaction
Related Company
Sales Report
Target Market
Commission Rate
Payment Date
Applicable Law
Business Day
Commission
Confidential Information
Effective Date
Force Majeure Event
Intellectual Property Rights
Intermediary Services
Net Sales
Principal
Products
Quarter
Services
Territory
Term
Transaction
Working Hours
Year
Commission Period
Customer
Gross Revenue
Material Breach
Performance Targets
Qualifying Transaction
Related Company
Sales Report
Target Market
Commission Rate
Payment Date
Clauses
Appointment and Authority
Scope of Services
Commission Structure
Payment Terms
Obligations of Principal
Obligations of Intermediary
Territory Rights
Performance Requirements
Reporting Requirements
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Representations and Warranties
Term and Duration
Termination
Force Majeure
Indemnification
Insurance
Assignment
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendment
Data Protection
Compliance with Laws
Record Keeping
Audit Rights
Scope of Services
Commission Structure
Payment Terms
Obligations of Principal
Obligations of Intermediary
Territory Rights
Performance Requirements
Reporting Requirements
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Representations and Warranties
Term and Duration
Termination
Force Majeure
Indemnification
Insurance
Assignment
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendment
Data Protection
Compliance with Laws
Record Keeping
Audit Rights
Relevant Industries
Relevant Teams
Relevant Roles
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