Purchase Agency Agreement for Singapore

Purchase Agency Agreement Template for Singapore

A Purchase Agency Agreement is a legal contract governed by Singapore law that establishes a relationship between a principal and an agent, where the agent is authorized to make purchases on behalf of the principal. The agreement details the scope of authority, commission structure, and obligations under Singapore's legal framework, particularly the Contracts Act and Agency Law. It includes specific provisions for territory, exclusivity, and performance metrics while ensuring compliance with Singapore's regulatory requirements.

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What is a Purchase Agency Agreement?

The Purchase Agency Agreement is essential for businesses operating in Singapore that require third-party procurement services. This document formalizes the appointment of an agent to conduct purchasing activities on behalf of a principal, outlining specific authorities, responsibilities, and compensation structures. Under Singapore law, this agreement provides legal protection for both parties while ensuring compliance with local regulations, including the Contracts Act, Agency Law, and relevant commercial legislation. The agreement typically includes detailed provisions for purchase limits, reporting requirements, and quality control measures.

What sections should be included in a Purchase Agency Agreement?

1. Parties: Details of the principal and agent, including full legal names and registered addresses

2. Background: Context and purpose of the agreement, including the principal's business and need for an agent

3. Definitions: Key terms used throughout the agreement including 'Products', 'Territory', 'Commission', etc.

4. Appointment and Scope: Terms of agent appointment and scope of authority, including specific powers granted to the agent

5. Duration: Term of the agreement, including start date and initial period

6. Agent's Duties: Specific responsibilities and obligations of the agent, including reporting requirements

7. Principal's Duties: Obligations of the principal, including provision of information and support

8. Commission Structure: Payment terms, commission calculations, and payment schedule

9. Confidentiality: Obligations regarding confidential information and trade secrets

10. Termination: Conditions for ending the agreement, notice periods, and consequences of termination

11. General Provisions: Standard clauses including governing law, notices, and entire agreement

What sections are optional to include in a Purchase Agency Agreement?

1. Exclusivity: Terms regarding exclusive rights of the agent in specified territory or product range

2. Performance Targets: Specific goals, metrics and consequences of not meeting targets

3. Territory: Detailed description of geographical scope of agency

4. Non-Competition: Restrictions on agent's ability to compete during and after agreement

5. Insurance: Requirements for insurance coverage by the agent

What schedules should be included in a Purchase Agency Agreement?

1. Schedule 1 - Commission Schedule: Detailed breakdown of commission calculations and payment terms

2. Schedule 2 - Product List: Comprehensive list of products covered by the agreement

3. Schedule 3 - Territory Map: Geographical representation and description of agency territory

4. Schedule 4 - Performance Metrics: Detailed KPIs, targets and measurement criteria

5. Schedule 5 - Reporting Templates: Standard forms for regular reporting by agent

Authors

Alex Denne

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

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Manufacturing
Retail
Import/Export
Wholesale

Relevant Teams

Procurement
Legal
Finance
Supply Chain
Operations

Relevant Roles

Procurement Manager
Supply Chain Director
Commercial Director
Purchasing Agent
Legal Counsel
Contract Manager

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A Singapore-law governed agreement appointing an agent to manage tender processes, including preparation, evaluation, and administration of tenders.

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What is a Purchase Agency Agreement?

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What sections are optional to include in a Purchase Agency Agreement?

What schedules should be included in a Purchase Agency Agreement?

Authors

Alex Denne

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