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Exclusive Territory Of Sales Agency - (Type 1)
EXCLUSIVE TERRITORY OF SALES AGENCY - (Type 1)
This agreement is made [Date of agreement], between [Principal corporation], a corporation organized and existing under the laws of [State of Jurisdiction] having its principal place of business at [Address of corporation] here referred to as principal, and [Agent of corporation], of [Address of agent] here referred to as salesperson.
The principal and salesperson agree to the following:
PART I.
APPOINTMENT OF SALESPERSON
The principal hereby appoints salesperson as an exclusive agent within the territory described. This appointment follows the terms and conditions set forth in this agreement, for the solicitation and acceptance of orders for the described products.
PART II.
EXCLUSIVE SALES TERRITORY
The exclusive sales territory of this agreement is [Description of territory].
PART III.
SALESPERSONS RIGHT TO SOLICIT AND TAKE ORDERS
Salesperson shall have the exclusive right to solicit and take orders in the territory for all [Products to be sold by agent].
PART IV.
PRICES AND TERMS OF ORDERS; CONFIRMATION
Salesperson shall solicit and take orders, within the territory, for products at the prices specified by principal.
All orders solicited and taken by salesperson shall be subject to acceptance and confirmation in writing by an authorized representative of principal.
PART V.
COMMISSIONS ON SALES
Unless otherwise stated, principal will pay commission on all uncancelled customer orders received from territory, amounts equal to [Percent of Sales to be paid as commission] of the net selling price of products that are sold within the territory by salesperson. Commissions will also take into account and be calculated as follows: [Inclusion of any factors affecting commission such as: payment schedule, outside territory sales and refunds]
PART VI.
DEVOTION OF TIME AND SKILL
The salesperson agrees to use their best efforts to promote the sale and use of the products within the territory. The salesperson shall respect the policy that regards the sale of products.
The parties expressly agree that salesperson shall not become interested in the sale of any product that competes with the products of this agreement, or that would conflict with the best interests of principal.
PART VII.
ARBITRATION
Any and all claims and disputes to this agreement will be subject to arbitration. The arbitration will be in accordance with the Arbitration Rules of the American Arbitration Association for [Principal's industry]. Written notice of arbitration shall be filed with the other party and with the American Arbitration Association, within [Grace period in days for arbitration].
PART VIII.
SALESPERSONS LIABILITY INSURANCE
As a condition to the appointment of a salesperson under this agreement, the salesperson agrees to maintain a public liability insurance policy with minimum limits of $[Minimum amount of liability insurance] with an insurance carrier licensed to do business in [Licensed state]. Proof of salespersons procurement of insurance is required no later than [Grace period to obtain insurance] days from the execution of this agreement.
PART IX.
GOVERNING LAW
This agreement and any disputes relating to it are governed by the laws of the state of [State of Jurisdiction]
PART X.
TERMS OF AGREEMENT EXCLUSIVE
This is the agreement between the parties. The parties understand and agree that neither of them has made any representation with respect to the subject matter of the agreement except those specifically set forth.
In witness whereof, the parties have executed this agreement at [Place of execution] on [Date of agreement]
Signature Date
Signature Date