The Intermediary Commission Agreement is essential for businesses operating in Singapore that rely on third-party agents or representatives to facilitate transactions or generate business opportunities. This document is particularly relevant in today's interconnected business environment, where companies increasingly depend on intermediaries to expand their market reach. The agreement, governed by Singapore law, provides a comprehensive framework for commission-based relationships, including detailed commission structures, performance metrics, territorial rights, and compliance with local regulations. It serves as a crucial tool for protecting both parties' interests while ensuring clarity in their business relationship.
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1. Parties: Identification and details of the principal and intermediary
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of appointment and scope of intermediary services
5. Commission Structure: Detailed breakdown of commission rates and calculation methods
6. Payment Terms: Terms and conditions for commission payments
7. Obligations of Parties: Responsibilities of both principal and intermediary
8. Term and Termination: Duration of agreement and termination provisions
9. Governing Law: Specification of Singapore law as governing law
1. Non-Competition: Restrictions on competitive activities - include when protecting market position is crucial
2. Intellectual Property: Protection of IP rights - include when IP assets are involved in the intermediary relationship
3. Force Majeure: Provisions for unforeseen circumstances - include for long-term or high-value relationships
4. Insurance: Insurance requirements - include when significant risks are involved in the intermediary services
1. Commission Rate Schedule: Detailed breakdown of commission rates for different services or products
2. Territory Schedule: Definition of geographical areas covered by the agreement
3. Service Level Agreement: Specific performance metrics and standards
4. Reporting Templates: Standard forms for activity and commission reporting
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