This agreement is for a term of years and terminable at will after the initial term. Sales Representative is to receive a residual commission for sales to new customer (those he brings to the Company) for a certain number of years after this Agreement has expired or been terminated. The appointment of sales representative is nonexclusive since the sale representative will sell for more than one company.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A Georgia Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legal document that outlines the specific terms and conditions of the relationship between a sales representative and a company based in Georgia. This agreement includes provisions for residual payments to the sales representative even after the termination of the contract, specifically for new customers acquired during the representative's employment. The agreement generally covers various essential aspects, including the roles and responsibilities of both parties, the scope of the representative's authority, the compensation structure, and the treatment of new customers acquired during the contract period. Residual payments ensure that the sales representative continues to receive a percentage or a fixed amount from the future sales made to these new customers, even if their active representation ends. There might be different types of Georgia Sales Representative Agreements with Residual Payments for New Customers after Contract Terminates, depending on the specifics and preferences of the parties involved. Some common variations may include: 1. Commission-based Agreement: This type of agreement often includes a percentage-based commission structure, where the sales representative receives a certain percentage of the ongoing sales made to new customers after the contract's termination. 2. Fixed Residual Payment Agreement: In this type, the sales representative is entitled to receive a fixed residual payment for each sale made to new customers after contract termination. The fixed amount is typically predetermined in the agreement. 3. Duration-limited Agreement: This type of agreement specifies a certain period during which the sales representative will be eligible to receive residual payments after contract termination. It may range from a few months to a couple of years, depending on the negotiated terms. 4. Territory-specific Agreement: In some cases, the agreement might outline a specific territory or region where the sales representative holds exclusive rights. Residual payments for new customers acquired within this territory even after the contract ends can be specified in such agreements. 5. Exclusive Representation Agreement: This type of agreement grants the sales representative exclusive rights to represent the company's products or services within a specific market or industry. Residual payments for new customers acquired during the term and beyond can be part of the agreement. It is essential for both the company and the sales representative to carefully negotiate and draft the agreement to ensure that all relevant terms and conditions are addressed adequately. Consulting with legal professionals experienced in sales representative agreements can help parties tailor the agreement to their specific needs, industry, and circumstances within the framework of Georgia laws and regulations.A Georgia Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legal document that outlines the specific terms and conditions of the relationship between a sales representative and a company based in Georgia. This agreement includes provisions for residual payments to the sales representative even after the termination of the contract, specifically for new customers acquired during the representative's employment. The agreement generally covers various essential aspects, including the roles and responsibilities of both parties, the scope of the representative's authority, the compensation structure, and the treatment of new customers acquired during the contract period. Residual payments ensure that the sales representative continues to receive a percentage or a fixed amount from the future sales made to these new customers, even if their active representation ends. There might be different types of Georgia Sales Representative Agreements with Residual Payments for New Customers after Contract Terminates, depending on the specifics and preferences of the parties involved. Some common variations may include: 1. Commission-based Agreement: This type of agreement often includes a percentage-based commission structure, where the sales representative receives a certain percentage of the ongoing sales made to new customers after the contract's termination. 2. Fixed Residual Payment Agreement: In this type, the sales representative is entitled to receive a fixed residual payment for each sale made to new customers after contract termination. The fixed amount is typically predetermined in the agreement. 3. Duration-limited Agreement: This type of agreement specifies a certain period during which the sales representative will be eligible to receive residual payments after contract termination. It may range from a few months to a couple of years, depending on the negotiated terms. 4. Territory-specific Agreement: In some cases, the agreement might outline a specific territory or region where the sales representative holds exclusive rights. Residual payments for new customers acquired within this territory even after the contract ends can be specified in such agreements. 5. Exclusive Representation Agreement: This type of agreement grants the sales representative exclusive rights to represent the company's products or services within a specific market or industry. Residual payments for new customers acquired during the term and beyond can be part of the agreement. It is essential for both the company and the sales representative to carefully negotiate and draft the agreement to ensure that all relevant terms and conditions are addressed adequately. Consulting with legal professionals experienced in sales representative agreements can help parties tailor the agreement to their specific needs, industry, and circumstances within the framework of Georgia laws and regulations.
