sourcing agent agreement

Principal acknowledges and agrees that if the invoiced amounts (except for the disputed invoiced amounts) remain outstanding after the relevant due date, Agent shall not be obliged to arrange for any Ordered Products to be shipped to Principal or to place any further orders with any Vendors on Principals behalf until all of the conditions in this Clause 8 have been satisfied. When Principal desires to purchase the Products, Principal shall forward all necessary designs and samples to Agent and shall then notify Agent in writing of the terms on which Principal wishes to make such purchase, including: (a)The name and all pertinent information regarding the subsidiary for which the purchase is being made; (b)the type of Products to be manufactured, including specifications as to quality, style and standard; (d)the quantity to be purchased and size and color assortments; (e)the unit price of the Product to be offered (but excluding buying commission}; (f)packing terms and shipping marks, if any; (i)(subject to Vendors agreement) the following liquidated damages on Vendors for any shipment that will be delivered late (to be decided at Principals election): Vendor to ship late goods by air, Vendor to provide discount or Principal to be entitled to cancel order; and. For the avoidance of doubt, the foregoing does not apply to the liability of Agent under its indemnification obligation hereunder. A party will not be considered in breach or in default because of, and will not be liable to the other party for, any delay or failure to perform its obligations under this agreement by reason of fire, earthquake, flood, explosion, strike, riot, war, terrorism, or similar event beyond that party's reasonable control (each a "Force Majeure Event"). (a)Agent and Principal agree that Principal may source Products from third parties; provided, that, subject to Clause 1.7, the Incoterm free on board (FOB) price of all Products purchased through Agent and shipped to Principal (the Agent Sourced Amount) shall not be less than the applicable minimum sourcing amount stipulated in the table below per Agreement Year or, in respect of any period of time during the term of this Agreement which is less than a year, the pro rata proportion of the Minimum Sourcing Amount (each such amount, for the relevant Agreement Year, the "Minimum Sourcing Amount"), to be verified by the Sourcing Certificate as set out in Clause 1.5. (b) use reasonable efforts to resolve any issues resulting from the Force Majeure Event and perform its obligations under this agreement. Except as set forth in this Agreement, Agent assumes no liability to Principal for defects in, or delay in, shipment of any Ordered Products. Sourcing Agent Contract Template Form - signNow (iii) is requested or legally compelled (by oral questions, interrogatories, requests for information or documents, subpoena, civil or criminal investigative demand, or similar processes), or is required by a regulatory body, to be disclosed. 000, Xxxxxx, Xxxxx 00000. Agent shall indemnify Principal and its respective officers, agents, employees, directors, shareholders and representatives, and their respective successors and assigns (collectively, the Principal Indemnified Parties), and hold them harmless, from and against any and all losses, damages, liabilities, payments, liens, judgments, orders and decrees of every description, recoveries, reasonable costs and expense (including. Each such Commission and Rebate shall be paid in the currency of the United States of America. which shall be binding upon Principal unless it has obtained the prior written consent of Principal on a case-by-case basis. 13.5. 6.1.g.3. Each Party to this Agreement shall, unless otherwise specified in this Agreement, pay for its own expenses, including travel and any other expenses and, in any event, Principal shall not be responsible for any costs of travel, entertainment, telephone, telex, telecopies, postage, office space, personnel (including salaries, benefits, overtime and any related taxes), legal or other profession costs or any other costs incurred by Agent in the performance of the Services or the other obligations set forth in this Agreement. Sourcing agreement Definition: 112 Samples | Law Insider 5.6. (a) notify the other party of the Force Majeure Event and its impact on performance under this agreement; and. This Purchasing Agency Agreement is between a company and a purchasing agent who will procure specific products for the company. On this week's episode of The Crypto Mile, our host Brian McGleenon discusses the development of sovereign AI agents with our guest, Jamie Burke. Once you agree to work with someone, you will have to sign a contract called an "exclusive buyer agency agreement," outlining the agent's services and compensation . (j)whether such purchase is to be made FOB or DDP. This Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing this Agreement to be drafted. 16. This Agreement may be executed in counterparts, each of which shall constitute an original, but together shall be considered one and the same document. This clause shall survive the expiration or termination of this Agreement. In the Sourcing agreement of X-ray such intent regards the achievement of high standard for product . That the local government took title to all materials and supplies at the point of delivery. Should You Use a Sourcing Agent? Pros and Cons | CapForge Agent shall promptly inform Principal in the event that any interest described in this Clause exists. IN CONTRACT OR IN TORT, EVEN IF PRINCIPAL HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES, AND (B) AGENT SHALL NOT BE LIABLE TO PRINCIPAL OR ANY THIRD PARTY FOR ANY CONSEQUENTIAL, INCIDENTAL, PUNITIVE, EXEMPLARY, OR SPECIAL DAMAGES, OR FOR LOSS OF GOODWILL OR BUSINESS PROFITS, REGARDLESS OF THE FORM OR ACTION, WHETHER IN CONTRACT OR IN TORT, EVEN IF AGENT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES. If the offered prices are not as good as or better than the prices provided in such Purchase Order Terms, Agent shall so advise Principal and shall follow Principals instructions with respect thereto. 7.1. Such financial assistance is provided to allow Vendors to timely produce Ordered Products for Principal, for example to facilitate the procurement of raw materials so that production can proceed to meet Principals specific ship date. Facsimile transmission or scanned .pdf image delivered by electronic means of any signed original counterpart and/or retransmission of any signed facsimile or electronic transmission shall be deemed the same as the delivery of an original. This policy establishes agency contract reporting requirements under Chapter 39.26 RCW. and the recovery of all monies due to Principal from such Vendor as a result of defective Ordered Products, shortages, etc., including the costs, shipping, handling, packaging and the like, incurred by Principal in connection with the delivery of the Ordered Products to it, the return of the Ordered Products to the Vendors and the replacement of the Ordered Products; (v)Use its best efforts to ensure that Vendors that hold Ordered Products that are cancelled by Principal, refused by Principal or are defective and/or non-conforming take the following steps: (i) cut out/destroy all labels, (ii) cut through the brand logo and brand name and (iii) to the extent requested by Principal, render the garment unusable and unsellable. Within two (2) weeks following the execution of this Agreement, Agent and Principal will work in good faith to negotiate an agreement for the use by Principal of Agents 3D and digital licenses related to product development, textile capabilities, sales and sample capabilities and any other new capabilities offered to any other customer of Agent. For the avoidance of doubt, Agent shall give at least seven (7) Business Days prior notice to Principal before it exercises the foregoing suspension right. 10.2. 6.1.g.4. reasonable attorneys' fees and expenses) that any of the Principal Indemnified Parties may incur or become obligated to pay, or for which any of them may become liable or be compelled to pay, in any action, claim or proceeding against any of them arising out of or relating to (i) Agents breach of its obligations of confidentiality, and (ii) Agents willful misconduct, gross negligence, fraud or criminal damage. Business Day means any day that is not a Saturday, a Sunday or any other day on which banks are required or authorized by applicable law to be closed in Hong Kong or in New York. (b)The execution, delivery and performance by Agent of this Agreement and the performance by Agent of its obligations and covenants contemplated hereby are within Agents powers and have been duly authorized by all necessary action (corporate or otherwise) on the part of Agent. Any goodwill received from this use will accrue to the Company, which will remain the sole owner of the CompanyMarks. Most of the time, these professionals are locals of the source country. 17.1. Sourcing agents might represent a single eCommerce company or choose to work with several retailers on a contract basis. That's why we've designed a simple, customizable template for you to use in all of your agency dealings, and give you peace of mind. 9 min read 1. 22.3. 9-220) Sec. Overview Purchasing agents are an important part of any company's success. For the avoidance of doubt, it is hereby agreed that the Parties to this Agreement are not partners or joint venturers nor shall they be deemed to constitute such. Business Operations, All 6. Free Agency Agreement Template for Download - Signaturely Notwithstanding the foregoing, Agent shall (i) be responsible for sampling inspection according to AQL for each purchase order and releasing all of the Ordered Products (in accordance with the AQL, (ii) provide timely and accurate WIP tracking and reporting form sampling through production to Principals requirements directly to Principal or through Agents digital platform once Principal has access to Agents digital platform, (iii) perform periodic in-line inspections during the production of the Ordered Product and maintain written. 26.1. Nothing in this provision is intended to affect in any way the provisions of Clause 19.1 above. Neither Party shall be liable for any failure to comply with its obligations hereunder, including the Minimum Sourcing Amount, the Threshold Amount and the Agent Sourcing Deficit obligations, if such failure is due to any cause beyond its reasonable control including acts of God, acts of civil or military authority, labor disputes, failure or delay of Vendor, fire, riots, civil commotions, sabotage, war, embargo, blockage, boycotts, floods, epidemics, delays in transportation, governmental restrictions, or acts or omissions of Vendor and/or Principal. Subject to Clause 8.2(a), Principal shall pay to Agent a commission equal to [****] ([****]) of the FOB price for the Ordered Products shipped by Vendors (the. 8.10. 5.5.a.4. The Borrower shall have executed the Sourcing Agreement with Federated Department Stores, Inc. on terms and conditions reasonably acceptable to Agent, and said Federated Department Stores, Inc. and each of the Borrower 's customs brokers shall have entered into such agreements with the Agent as the Agent may reasonably require. This Agreement shall be effective on May 1, 2019 (the Effective Date) and this Agreement shall have an initial term beginning May 1, 2019 to April 30, 2021 (the Initial. Sourcing Agent: The Definitive Beginner's Guide in 2023 [Infographic] 48+ SAMPLE Agent Agreement in PDF | MS Word Also, nothing herein is intended to impair any rights that a Party may have as a creditor in any such bankruptcy or other such proceeding; (b)If there is a Change of Control of Ownership of the other Party; or. Buying Agency Agreement | Practical Law - Westlaw Attorneys with you, every step of the way. However, the Purchasing Agent shall make reasonable efforts to obtain reliable assurance that confidential treatment will be accorded, any part of the Confidential Information disclosed in this way; or. Go digital and save time with signNow, the best solution for electronic signatures.Use its powerful functionality with a simple-to-use intuitive interface to fill out International buying template online, e-sign them, and quickly share them without jumping tabs. PDF EXCLUSIVE PURCHASING AGENCY AGREEMENT & GUIDE - LegalZoom The communicated documents are marked with a cancellation notice to highlight this action to the supplier. Agency Agreement Template - Get Free Exclusive Agent Contract Sample At such times as may be reasonably requested by Principal, Agent will certify to Principal in writing that: (1) Agent and its managers, representatives, and agents engaged in business connected to this Agreement since the Effective Date have been informed of their. If a regulatory body or court of competent jurisdiction finds that the Purchasing Agent is not an independent contractor or is not in compliance with applicable laws related to work as an independent contractor, based on the Purchasing Agent's own actions, the Purchasing Agent will assume full responsibility and liability for all taxes, assessments, and penalties imposed against the Purchasing Agent or the Company resulting from that contrary interpretation, including taxes, assessments, and penalties that would have been deducted from the Purchasing Agent's earnings if the Purchasing Agent had been on the Company's payroll and employed as a Company employee. A buying agency agreement, also known as a purchasing agency agreement, that a US importer can use when engaging an agent to assist with the importer's purchase of goods from foreign suppliers. During the Term and thereafter, Principal shall not, and shall cause its directors, officers, agents, members, employees, affiliates or other representatives not to, criticize or disparage Agent and Agent shall not, and shall cause its directors, officers, agents, members, employees, affiliates or other representatives not to, criticize or disparage Principal, any director, officer, agent, member, employee affiliate or other representative of Principal, or Principals Products, including the Ordered Products. 24.1. 8.11. 18+ Printable Agency Agreement Templates - Word, PDF, Pages Notwithstanding expiration or termination under this Clause 13, Agent shall be required to perform all Services in respect of all Contracts entered into as of the time of expiration or termination of this Agreement, whether to be performed prior to or after the delivery to Principal of the subject Ordered Products, as well as all other Services that by their nature relate to such Contracts entered into as of the time of expiration or termination of this Agreement, such as obligations to cooperate with Principal or the Licensors in their dealings with the Vendors and obligations to assure the proper conduct of the Vendors, would survive the expiration or termination of this Agreement. Any notice required or permitted to be given by a Party hereto to the other shall be in writing and shall be duly given, upon receipt by the addressee, if sent by internationally-recognized overnight courier or mail service that requires the addressee to acknowledge, in writing, the receipt thereof, by electronic transmission or by facsimile to its address or facsimile number given herein, as applicable, or such other address or facsimile number as may from time to time be notified for this purpose: In proving service it shall be sufficient to prove that the notice was properly addressed and delivered or posted, as the case may be.
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