The Sourcing Agent Agreement is essential for companies looking to optimize their procurement processes through professional representation in supplier markets. This document, particularly relevant in U.S. business operations, defines the relationship between the principal company and their sourcing agent, covering crucial aspects such as commission structures, service scope, and compliance requirements. The agreement is designed to protect both parties' interests while ensuring efficient procurement operations. Use of a formal Sourcing Agent Agreement is particularly important when establishing long-term sourcing relationships, dealing with international suppliers, or handling significant procurement volumes.
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1. Parties: Identification and details of the principal and the sourcing agent
2. Background: Context of the agreement and brief description of the business relationship
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope of Services: Terms of appointment and detailed description of services to be provided
5. Term and Termination: Duration of agreement and conditions for termination
6. Compensation: Fee structure, commission rates, and payment terms
7. Obligations of the Agent: Agent's duties, responsibilities, and performance standards
8. Obligations of the Principal: Principal's duties and responsibilities
9. Confidentiality: Protection of confidential information and trade secrets
10. Governing Law: Applicable law and jurisdiction
1. Exclusivity: Terms of exclusive representation and restrictions on representing competitors
2. Performance Metrics: Specific KPIs and performance standards for larger contracts
3. Insurance: Insurance requirements and coverage details for high-value transactions
4. Force Majeure: Provisions for unforeseen circumstances in unstable markets
5. Compliance with Laws: Specific regulatory compliance requirements for regulated industries
1. Schedule A - Territory Definition: Geographical areas covered by the agreement
2. Schedule B - Commission Structure: Detailed breakdown of commission rates and calculations
3. Schedule C - Product Categories: List of products or services to be sourced
4. Schedule D - Approved Suppliers: List of pre-approved suppliers, if any
5. Schedule E - Performance Metrics: Detailed KPIs and measurement criteria
6. Schedule F - Compliance Checklist: Required certifications and compliance standards
Relevant legal definitions
Agreement
Agent
Principal
Services
Territory
Commission
Effective Date
Term
Product Categories
Purchase Order
Specifications
Suppliers
Confidential Information
Intellectual Property Rights
Force Majeure Event
Business Day
Applicable Laws
Target Price
Quality Standards
Purchase Price
Delivery Terms
Manufacturing Facility
Sample Products
Sourcing Services
Material Breach
Trade Secrets
Compliance Requirements
Performance Metrics
Related Parties
Net Purchase Price
Commission Payment Date
Approved Suppliers
Quality Control Standards
Inspection Rights
Payment Terms
Agent
Principal
Services
Territory
Commission
Effective Date
Term
Product Categories
Purchase Order
Specifications
Suppliers
Confidential Information
Intellectual Property Rights
Force Majeure Event
Business Day
Applicable Laws
Target Price
Quality Standards
Purchase Price
Delivery Terms
Manufacturing Facility
Sample Products
Sourcing Services
Material Breach
Trade Secrets
Compliance Requirements
Performance Metrics
Related Parties
Net Purchase Price
Commission Payment Date
Approved Suppliers
Quality Control Standards
Inspection Rights
Payment Terms
Clauses
Appointment
Services Scope
Term and Duration
Commission and Payment
Territory
Exclusivity
Performance Requirements
Obligations and Duties
Representations and Warranties
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Indemnification
Insurance
Compliance
Reporting Requirements
Quality Control
Inspection Rights
Record Keeping
Force Majeure
Termination
Assignment
Notices
Dispute Resolution
Governing Law
Amendment
Entire Agreement
Severability
Waiver
Relationship of Parties
Third-Party Rights
Data Protection
Anti-Corruption
Export Control
Services Scope
Term and Duration
Commission and Payment
Territory
Exclusivity
Performance Requirements
Obligations and Duties
Representations and Warranties
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Indemnification
Insurance
Compliance
Reporting Requirements
Quality Control
Inspection Rights
Record Keeping
Force Majeure
Termination
Assignment
Notices
Dispute Resolution
Governing Law
Amendment
Entire Agreement
Severability
Waiver
Relationship of Parties
Third-Party Rights
Data Protection
Anti-Corruption
Export Control
Relevant Industries
Relevant Teams
Relevant Roles
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