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Agreement For Sales Agent
AGREEMENT FOR SALES AGENT
This agreement is made [date of agreement], between [name of principal], a corporation that was organized under the laws of [state of principal] with its main place of business located at [address of principal] here referred to as principal, and [name of agent], of [address of agent] here referred to as agent.
RECITALS
The principal is a manufacturer of [product] and wants to appoint a general sales agent for selling the principal's product(s).
The agent accepts such duties and agrees to follow the terms and conditions of this agreement.
PART I.
DURATION
The agreement will last for [period of time of agreement] and begin on [begin date of agreement], unless either or both parties terminate according to the terms of the agreement.
PART II.
COMMISSIONS
The agent, will receive a commission from the sale of products sold for use in agents territory.
The agents commission on sales will be calculated and distributed as follows: [sales subject to commission, when commission is paid, trade ins, sales from other territories, dispute resolution, or any other related commission policy or procedure]
PART III.
ORDERS
All orders must be taken as follows to ensure proper credit and to follow the order guidelines set up by the corporation: [guidelines, policies, procedures, etc. that are associated with taking orders when a sale is made]
PART IV.
AGENT NOT TO COMPETE
The agent, having agreed to devote their whole time to the principals business, is not permitted to purchase or deal in [product] on their own in any way during the continuance of this agreement. The agent will also not engage, directly or indirectly in manufacturing, buying, selling or dealing in [product], in the territory described, for a period of [period of time of non-compete] following the termination of this agreement.
PART V.
REMITTALS BY AGENT
The agent must deposit daily to principal, in the manner prescribed by the treasurer, or deposit daily in a financial institution designated by the treasurer, all money, checks and drafts received by agent. The agent will in no way use any money collected for principal to defray their expenses, or for any other purpose.
PART VI.
AGENTS EXPENSES
All expenses for traveling, office, clerical, office and equipment maintenance, or general selling expenses will be borne wholly by agent. The principal will not be responsible or liable for such expenses.
PART VII.
OBJECTIONS TO ACCOUNTING; LIMITATIONS
The agent understands and agrees that all objections to statements of account submitted by principal are waived, unless they receive written notice from the agent within days after receiving their statement.
PART IX.
SURETY BOND OF AGENT
The agent agrees to furnish a fidelity bond in the sum of $[Amount of fidelity bond], to be issued by a surety company and based on the faithful performance of the agent. Any related premiums must be paid by the agent.
PART X.
DEPRECIATION OF AGENCY PROPERTY
The furniture, property and fixtures used by agent shall be invoiced and appraised at least once each year and a deduction of not less than [Furniture deduction percent]% per year will be made to cover wear and tear in ordinary depreciation.
PART XI.
GOVERNING LAW
The enforcement of this agreement will be governed by the laws of the state of [state of Jurisdiction].
In witness whereof, the parties have executed this agreement at [execution location] on [execution date].
Signature Date
Signature Date