The Sourcing Agent Agreement is essential for businesses operating in or through Singapore that require professional procurement services. This document establishes the framework for engaging a sourcing agent to identify, evaluate, and secure products or materials from suppliers. The agreement typically includes detailed provisions on commission structures, quality control measures, and compliance with Singapore's stringent commercial and trade regulations. It's particularly relevant for companies expanding their supply chain in Asia, with Singapore serving as a regional hub. The document should be customized based on the specific industry, scope of sourcing required, and whether it involves domestic or international procurement.
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1. Parties: Identification and details 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: Core responsibilities and duties of the sourcing agent
6. Principal's Obligations: Responsibilities of the principal
7. Compensation: Fee structure, commission rates, and payment terms
8. Term and Termination: Duration of agreement and termination provisions
9. Confidentiality: Protection of confidential information
10. Governing Law: Applicable law and jurisdiction
1. Exclusivity: Terms of exclusive representation when principal wants to restrict agent from representing competitors
2. Insurance: Insurance requirements when dealing with high-value goods or specific risks
3. Force Majeure: Provisions for unforeseen circumstances when dealing with international sourcing or high-risk markets
4. Intellectual Property: IP rights and protection when dealing with branded products or proprietary information
1. Schedule 1 - Service Description: Detailed scope of sourcing services
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees and commission structure
3. Schedule 3 - Target Products: List of products or categories to be sourced
4. Schedule 4 - Quality Standards: Required quality specifications and standards
5. Schedule 5 - Approved Suppliers: List of pre-approved suppliers (if any)
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