Authorized Agent Agreement for the United States

Authorized Agent Agreement Template for United States

An Authorized Agent Agreement is a legally binding document used in the United States that establishes and defines the relationship between a principal and their appointed agent. The agreement outlines the scope of authority granted to the agent, specific duties and responsibilities, compensation terms, and liability provisions. It complies with U.S. federal and state agency laws, ensuring clear definition of the agent's powers while protecting both parties' interests through detailed terms and conditions.

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What is a Authorized Agent Agreement?

The Authorized Agent Agreement is essential when one party (the principal) needs to formally delegate authority to another party (the agent) to act on their behalf in specific matters. This document, governed by U.S. agency laws, provides legal protection and clarity for both parties by precisely defining the scope of authority, responsibilities, compensation, and liability. It's particularly crucial in regulated industries where formal authorization is required, and helps prevent misunderstandings about the extent of the agent's powers while ensuring compliance with relevant state and federal regulations.

What sections should be included in a Authorized Agent Agreement?

1. Parties: Identifies and defines the principal and agent, including full legal names and addresses

2. Background: Explains the context and purpose of the agreement, including the principal's desire to appoint an agent

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Scope of Authority: Specifies the agent's appointment and detailed scope of authorized activities

5. Term and Termination: Defines the duration of the agreement and conditions for termination

6. Duties and Responsibilities: Outlines specific obligations of both principal and agent

7. Compensation: Details payment terms, commission structures, or other forms of compensation

8. Liability and Indemnification: Addresses risk allocation between parties

What sections are optional to include in a Authorized Agent Agreement?

1. Non-Competition: Restricts agent's ability to compete with the principal during and after the agreement term

2. Confidentiality: Protects sensitive information shared between principal and agent

3. Insurance Requirements: Specifies required insurance coverage and minimum coverage amounts

4. Compliance with Laws: Details specific regulatory requirements and compliance obligations

What schedules should be included in a Authorized Agent Agreement?

1. Schedule A - Scope of Services: Detailed list of authorized activities and responsibilities

2. Schedule B - Compensation Structure: Detailed breakdown of fees, commissions, and payment terms

3. Schedule C - Territory: Geographic areas where agent is authorized to operate

4. Schedule D - Reporting Requirements: Templates and timing for required reports

5. Appendix 1 - Power of Attorney: Formal power of attorney documentation if required for specific activities

6. Appendix 2 - Required Licenses: Copies of relevant licenses and certifications required for agent's activities

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

United States

Publisher

Genie AI

Cost

Free to use
Industries

Agency Law: Includes state-specific agency laws, Restatement (Third) of Agency, and common law principles governing agency relationships. These form the fundamental legal framework for agent-principal relationships.

Contract Law: Encompasses state-specific contract laws, Uniform Commercial Code (where applicable), and Statute of Frauds requirements. These govern the formation and enforcement of the agreement.

Industry-Specific Regulations: Varies by sector - includes Securities laws, Real estate laws, Insurance laws, and FINRA regulations depending on the scope of agency. These provide specific compliance requirements for different business sectors.

Federal Laws: Includes Federal Trade Commission regulations, anti-fraud provisions, consumer protection laws, and Foreign Corrupt Practices Act for international dealings. These provide overarching federal compliance requirements.

Liability and Indemnification: Covers state tort laws, vicarious liability principles, and professional liability considerations. These address risk allocation and responsibility between parties.

Privacy and Data Protection: Encompasses data privacy laws, state-specific privacy regulations, and GDPR compliance if EU-related. These govern the handling and protection of sensitive information.

Employment Law: Includes independent contractor vs. employee classification, Fair Labor Standards Act, and state employment laws. These ensure proper classification and treatment of the agent.

Licensing Requirements: Covers state-specific licensing requirements, professional certifications, and industry-specific permits. These ensure proper authorization and compliance with regulatory requirements.

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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