Agency Agreement

AGENCY AGREEMENT This AGENCY AGREEMENT is made on [effective_date] between [principal_name], of [principal_address] (the "Principal"), and [agent_name], of [agent_address] (the "Agent"). 1. APPOINTMENT The Principal appoints the Agent to act on its behalf within [territory], and the Agent accepts the appointment on the terms of this Agreement. 2. SCOPE OF AUTHORITY 2.1 The Agent is authorised to do the following on the Principal's behalf: [scope_of_authority] 2.2 The Agent shall NOT, without the Principal's prior written consent: alter the Principal's prices or terms; make any representation or warranty on the Principal's behalf; incur any liability binding on the Principal; or accept payment except as expressly authorised. 3. DUTIES OF THE AGENT The Agent shall act in good faith and in the Principal's best interests; use reasonable skill and diligence; follow the Principal's lawful instructions; keep proper accounts of all transactions and render them on demand; not make any secret profit; and promptly account to the Principal for all money received on its behalf. 4. COMMISSION 4.1 The Principal shall pay the Agent a commission of [commission_percent]% on the net invoiced value of sales procured by the Agent and accepted by the Principal. 4.2 Commission accrues only on amounts actually realised by the Principal, and is payable within thirty days of realisation. 4.3 Commission is exclusive of Goods and Services Tax, payable additionally where applicable, and is subject to deduction of tax at source under the Income-tax Act, 1961. 5. NO EMPLOYMENT OR PARTNERSHIP The Agent is an independent contractor. Nothing in this Agreement creates a relationship of employment, partnership or joint venture. The Agent shall bear its own costs and the statutory dues of its own personnel. 6. TERM AND TERMINATION 6.1 This Agreement continues for [term_months] months unless renewed in writing. 6.2 Either party may terminate on [notice_days] days' written notice, and either may terminate immediately for material breach not remedied within fifteen days of notice, or on the other's insolvency. 6.3 On termination the Agent shall return all samples, price lists, customer data and other property of the Principal, and shall cease holding out as its agent. 7. POST-TERMINATION COMMISSION The Agent remains entitled to commission on orders procured before termination and subsequently accepted and realised by the Principal. 8. CONFIDENTIALITY The Agent shall keep confidential all non-public information of the Principal, during the term and after it. 9. GOVERNING LAW This Agreement is governed by the laws of India, and the courts at the Principal's place of business shall have exclusive jurisdiction. IN WITNESS WHEREOF the parties have executed this Agreement on the date first written above. PRINCIPAL AGENT [principal_name] [agent_name]