The Sourcing Fee Agreement is essential for businesses seeking to establish formal arrangements with sourcing agents in Hong Kong and the broader Asian market. This document is typically used when a company requires professional sourcing services for products, materials, or components, and needs to formalize the commercial terms, including fee structures and service levels. The agreement, governed by Hong Kong law, provides a legal framework that protects both parties' interests while ensuring compliance with local regulations. It covers crucial elements such as scope of services, compensation mechanisms, performance standards, and risk allocation. The document is particularly relevant for international trade relationships where Hong Kong serves as a key sourcing hub, and it accommodates various fee models including commission-based, fixed-fee, or hybrid arrangements.
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1. Parties: Identifies and provides full legal details of the parties entering into the agreement
2. Background: Sets out the context of the agreement and the parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Services: Details the sourcing services to be provided, including geographical coverage and product categories
5. Fee Structure: Specifies the fees, calculation methods, and payment terms
6. Payment Terms: Outlines payment schedule, invoicing requirements, and payment methods
7. Term and Termination: Specifies the duration of the agreement and circumstances for termination
8. Obligations of the Sourcing Agent: Lists the responsibilities and duties of the sourcing agent
9. Client Obligations: Specifies the responsibilities and commitments of the client
10. Confidentiality: Protects confidential information exchanged during the sourcing process
11. Intellectual Property: Addresses ownership and usage rights of any IP involved
12. Liability and Indemnification: Sets out liability limitations and indemnification obligations
13. Force Majeure: Addresses circumstances beyond parties' control affecting performance
14. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for disputes
15. General Provisions: Includes standard boilerplate clauses such as notices, amendments, and assignment
1. Exclusivity: Used when the sourcing agent is granted exclusive rights for certain products or territories
2. Performance Metrics: Include when specific KPIs or performance standards need to be met
3. Quality Control: Added when the sourcing agent is responsible for quality inspection services
4. Insurance: Include when specific insurance requirements are needed for high-value or high-risk sourcing
5. Compliance with Laws: Added when specific regulatory compliance requirements need emphasis
6. Sub-contracting: Include when the sourcing agent may need to engage sub-contractors
7. Anti-corruption: Added for international sourcing arrangements or when dealing with government entities
8. Dispute Resolution: Include when specific dispute resolution procedures (mediation/arbitration) are preferred
1. Schedule 1 - Service Description: Detailed description of sourcing services and deliverables
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees, commission rates, and calculation methods
3. Schedule 3 - Territory and Products: List of covered territories and product categories
4. Schedule 4 - Key Personnel: Details of key team members responsible for providing the services
5. Schedule 5 - Service Levels: Specific performance metrics and service level requirements
6. Appendix A - Reporting Templates: Standard templates for regular reporting and documentation
7. Appendix B - Communication Protocols: Procedures for routine communication and escalation
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