Sales Agency Agreement with Minimum Performance Standard

• Category: Contracts - Agency
• State: Multi-State
• Control #: US-1341004BG
• Format: Word; Rich Text

Description

An Agency Agreement, also sometimes called an Agent Agreement, is a document between two parties, a principal, and an agent. The principal is the person who is essentially "hiring" or engaging the agent (although an employment relationship is usually not created between the two). The agent is the person that will be acting on behalf of the principal. In an Agency Agreement, the agent agrees to take on, and the principal agrees to give the agent, certain responsibilities so that the agent may act for the principal in the specific situations described in the agreement. A Sales Agency Agreement with Minimum Performance Standard is an agreement between a company (the principal) and an independent sales agent (the agent) regarding the sale of the principal’s products and services. It outlines the terms of the agency relationship, including the duties of the agent, the agent’s commission, and the principal’s minimum performance requirements. The agreement typically includes compensation and termination details, and it may also include a minimum performance standard that the agent must meet in order to receive commission. The types of Sales Agency Agreement with Minimum Performance Standard include Exclusive Agency Agreements, Non-Exclusive Agency Agreements, and Commission-Only Agency Agreements. An Exclusive Agency Agreement grants the agent exclusive rights to sell the principal’s products and services and is typically used when the principal wants to limit the number of agents in a particular geographic area. A Non-Exclusive Agency Agreement grants the agent the right to sell the principal’s products and services, but does not limit the principal’s ability to work with other agents. A Commission-Only Agency Agreement allows the agent to receive commission on sales without any additional compensation from the principal.

A Sales Agency Agreement with Minimum Performance Standard is an agreement between a company (the principal) and an independent sales agent (the agent) regarding the sale of the principal’s products and services. It outlines the terms of the agency relationship, including the duties of the agent, the agent’s commission, and the principal’s minimum performance requirements. The agreement typically includes compensation and termination details, and it may also include a minimum performance standard that the agent must meet in order to receive commission. The types of Sales Agency Agreement with Minimum Performance Standard include Exclusive Agency Agreements, Non-Exclusive Agency Agreements, and Commission-Only Agency Agreements. An Exclusive Agency Agreement grants the agent exclusive rights to sell the principal’s products and services and is typically used when the principal wants to limit the number of agents in a particular geographic area. A Non-Exclusive Agency Agreement grants the agent the right to sell the principal’s products and services, but does not limit the principal’s ability to work with other agents. A Commission-Only Agency Agreement allows the agent to receive commission on sales without any additional compensation from the principal.