The Exclusive Agency Agreement serves as a formal contract between a company and an agent, entrusting the agent with exclusive rights to sell or lease properties on behalf of the company in Georgia. Key features of the form include the establishment of the agency relationship, clearly defined duties, compensation arrangements, and procedures for notice and renewal. This agreement also stipulates that the agent acts as an independent contractor, responsible for their own taxes and expenses while undertaking specific tasks such as representation and advisory roles. It's structured to ensure mutual consent for modifications and emphasizes that any legal disputes will involve the prevailing party receiving attorney fees. The agreement is beneficial to a variety of target audiences, such as attorneys who can advise on its implications, partners who may seek to formalize business relationships, and paralegals or legal assistants who require clarity in preparing documents. Furthermore, it provides owners and associates a streamlined process for engaging agents effectively, ensuring all parties understand their obligations and rights throughout the term of agency.