This Agency Agreement can be used to set out the terms upon which a principal engages an agent to act on its behalf on a non-exclusive basis. As this is a non-exclusive agreement, it contemplates that the principal may wish to appoint other agents to represent it in a similar way. If you are wanting an Exclusive Agency Agreement, please use LawLive's Exclusive Agency Agreement.
This Agency Agreement contemplates that the agent is a company and a director of that company makes certain representations and gives a guarantee.
When establishing an Agency Agreement, it is important to set out the powers the agent has and any limitations on those powers. Provided the agent acts within the scope of its authority, the agent will bind the principal. If the principal holds the agent out to have authority, then even if there is a limitation in the agency agreement, the principal will still be bound. In addition the agency agreement should also set out the remuneration of the agent, the specific tasks the agent will perform and the term or period of the agency.
Warning: there will be some situations (eg. real estate agents) where there are statutory requirements governing the form and content of the agency agreement and you should not use this template for those types of agency agreements.
This Agency Agreement contains the following provisions:
1. Appointment of Agent and Relationship;
2. Representations by the Agent and Director;
3. Agent's Fees and Expenses;
4. Compliance with Laws;
5. Principal's Directions and Agent's Business;
7. Intellectual Property;
8. Good Faith and Co-Operation;
9. Term and Termination;
10. Waiver and Variations;
11. Guarantee by Director;
12. Independent Legal Advice;
13. Whole Agreement and Implied Terms;
LAWLIVE recommends: This is a complex document which involves the creation of complex legal rights and obligations and may give rise to various taxation and liability consequences. The best way to use this document is to complete it, print it out, print out all of the checklists that apply to it and all other LawLive information that relates to this type of document. When you have done this, LawLive recommends you read it carefully and instruct lawyers to assist you in the finalisation of the document and that you take tax advice from your accountant or tax adviser as to any income tax, capital gains or GST consequences.