The Sourcing Agent Agreement is essential for businesses operating in or through Singapore that require professional procurement services. This document establishes the framework for engaging a sourcing agent to identify, evaluate, and secure products or materials from suppliers. The agreement typically includes detailed provisions on commission structures, quality control measures, and compliance with Singapore's stringent commercial and trade regulations. It's particularly relevant for companies expanding their supply chain in Asia, with Singapore serving as a regional hub. The document should be customized based on the specific industry, scope of sourcing required, and whether it involves domestic or international procurement.
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1. Parties: Identification and details of the Principal and the Sourcing Agent
2. Background: Context of the agreement and business relationship
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of agent appointment and scope of services
5. Agent's Obligations: Core responsibilities and duties of the sourcing agent
6. Principal's Obligations: Responsibilities of the principal
7. Compensation: Fee structure, commission rates, and payment terms
8. Term and Termination: Duration of agreement and termination provisions
9. Confidentiality: Protection of confidential information
10. Governing Law: Applicable law and jurisdiction
1. Exclusivity: Terms of exclusive representation when principal wants to restrict agent from representing competitors
2. Insurance: Insurance requirements when dealing with high-value goods or specific risks
3. Force Majeure: Provisions for unforeseen circumstances when dealing with international sourcing or high-risk markets
4. Intellectual Property: IP rights and protection when dealing with branded products or proprietary information
1. Schedule 1 - Service Description: Detailed scope of sourcing services
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees and commission structure
3. Schedule 3 - Target Products: List of products or categories to be sourced
4. Schedule 4 - Quality Standards: Required quality specifications and standards
5. Schedule 5 - Approved Suppliers: List of pre-approved suppliers (if any)
Relevant legal definitions
Agreement
Applicable Laws
Approved Suppliers
Business Day
Commission
Commencement Date
Confidential Information
Force Majeure Event
Initial Term
Intellectual Property Rights
Market Price
Minimum Purchase Requirement
Principal
Products
Purchase Order
Quality Standards
Restricted Territory
Services
Sourcing Agent
Specifications
Supplier
Target Markets
Term
Territory
Trade Laws
Applicable Laws
Approved Suppliers
Business Day
Commission
Commencement Date
Confidential Information
Force Majeure Event
Initial Term
Intellectual Property Rights
Market Price
Minimum Purchase Requirement
Principal
Products
Purchase Order
Quality Standards
Restricted Territory
Services
Sourcing Agent
Specifications
Supplier
Target Markets
Term
Territory
Trade Laws
Clauses
Appointment
Authority and Scope
Term and Duration
Services
Exclusivity
Commission and Fees
Payment Terms
Performance Standards
Quality Control
Due Diligence
Reporting Requirements
Warranties and Representations
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Indemnification
Insurance
Compliance with Laws
Anti-Corruption
Force Majeure
Termination
Post-Termination Obligations
Assignment
Subcontracting
Notice
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendment
Waiver
Third Party Rights
Costs
Counterparts
Authority and Scope
Term and Duration
Services
Exclusivity
Commission and Fees
Payment Terms
Performance Standards
Quality Control
Due Diligence
Reporting Requirements
Warranties and Representations
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Indemnification
Insurance
Compliance with Laws
Anti-Corruption
Force Majeure
Termination
Post-Termination Obligations
Assignment
Subcontracting
Notice
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendment
Waiver
Third Party Rights
Costs
Counterparts
Relevant Industries
Relevant Teams
Relevant Roles
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