Sourcing Agent Contract for Singapore

Sourcing Agent Contract Template for Singapore

A Sourcing Agent Contract governed by Singapore law establishes the legal framework for a business relationship between a principal company and a sourcing agent. This agreement defines the agent's authority to identify, negotiate with, and secure suppliers on behalf of the principal, typically in Asian markets. The contract incorporates Singapore's robust commercial laws and regulations, including specific provisions for agency relationships, international trade, and data protection requirements.

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What is a Sourcing Agent Contract?

The Sourcing Agent Contract is essential for businesses seeking to establish a formal relationship with professional sourcing agents, particularly in Asian markets. This agreement, governed by Singapore law, provides comprehensive coverage of the agent's responsibilities, including supplier identification, price negotiation, quality control, and logistics coordination. It protects both parties' interests while ensuring compliance with Singapore's stringent commercial regulations and international trade requirements. The contract is particularly relevant for companies looking to leverage Singapore's strategic position as a global trading hub while benefiting from its stable legal framework.

What sections should be included in a Sourcing Agent Contract?

1. Parties: Identification 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: Detailed responsibilities and duties of the sourcing agent

6. Principal's Obligations: Responsibilities and duties of the principal

7. Commission Structure: Payment terms and commission calculations

8. Term and Termination: Duration of agreement and termination provisions

What sections are optional to include in a Sourcing Agent Contract?

1. Exclusivity: Terms of exclusive arrangement - use when agent is granted exclusive rights in specific territories/products

2. Performance Targets: Specific KPIs and targets - use when measuring agent's performance against specific metrics

3. Training and Support: Details of training provided by principal - use when principal provides specific training or support systems

4. Insurance Requirements: Specific insurance obligations - use when dealing with high-value goods or specific risks

What schedules should be included in a Sourcing Agent Contract?

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

2. Territory Schedule: Defined geographical areas of operation

3. Product Schedule: List of products covered under the agreement

4. Service Level Agreement: Detailed performance metrics and service standards

5. Approved Supplier List: Pre-approved suppliers if applicable

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

Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Agency Agreement

Cost

Free to use
Clauses
Industries

Contract Law (Chapter 53): Primary legislation governing contract formation, terms, performance, and remedies in Singapore

Civil Law Act (Chapter 43): Fundamental legislation governing civil matters including contractual relationships and obligations

Electronic Transactions Act: Legislation governing the formation and validity of electronic contracts and digital signatures

Agency Law: Common law principles governing principal-agent relationships and agency obligations in Singapore

Competition Act (Chapter 50B): Legislation promoting competition and preventing anti-competitive practices in business relationships

Sale of Goods Act (Chapter 393): Legislation governing the sale and purchase of goods, including rights and obligations of buyers and sellers

Supply of Goods Act: Regulations concerning the supply of goods and related services in commercial transactions

Consumer Protection (Fair Trading) Act: Legislation protecting consumer interests and ensuring fair trading practices

Import/Export Control Act: Regulations governing international trade, import and export procedures and requirements

Customs Act (Chapter 70): Legislation governing customs procedures, duties, and related international trade matters

Personal Data Protection Act 2012: Framework for data protection and privacy requirements in business operations

Prevention of Corruption Act: Anti-corruption legislation preventing bribery and corrupt practices in business dealings

Employment Act: Primary legislation governing employment relationships and working conditions, relevant if the sourcing agent employs staff

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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