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.
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Key Requirements PROMPT example:
Sourcing Agent Contract
"I need a Sourcing Agent Contract for appointing an exclusive agent in Vietnam to source electronic components for our Singapore-based manufacturing company, with specific KPIs and quarterly performance reviews starting from March 2025."
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
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
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
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