A valid purchasing agent agreement is a written contract that must clearly show all of the following: That the local government authorized the contractor as the purchasing agent. 5.5.a.4. 6.1.g.3. Thank you for subscribing to our newsletter! 22.2. Human Resources, All Agent further acknowledges that other relevant anti-corruption laws, including those of the People's Republic of China, prohibit both commercial and government bribery. The date this agreement is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this agreement. (a)In respect of any Major Quality/Delivery Issues, Principal shall: 5.5.a.1. Handy tips for filling out Sourcing agent contract template online. In conjunction with this responsibility, Agent shall verify that manufacturers and pre-approved subcontractors have the production capacity, machinery and labor force necessary to produce the merchandise as specified in the purchase order and further verify that such entity produced the merchandise by completing "Factory Profile" and "Verification of Production" forms, in a form and substance acceptable to Principal. Create now View Sample Here's the info you'll need to have handy to complete your doc: Who the agent is Have their name and contact info ready. She can inspect factories to confirm . 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. If appropriate action is not taken by the indemnitor timely after its receipt of notice from the indemnitee, the indemnitee may defend the action, claim or proceeding, but with only one counsel reasonably acceptable to the indemnitor and at standard rates, and no compromise or settlement may be made without the approval of the indemnitor, which shall not be withheld unreasonably. Each party shall use all reasonable efforts to take, or cause to be taken, all actions necessary or desirable to consummate and make effective the transactions this agreement contemplates or to evidence or carry out the intent and purposes of this agreement. (iii) the Company's failure to pay the purchase price of any Merchandise, or any sales or use taxes imposed on that Merchandise, or the cost of shipping and handling any Merchandise. 21.2. Address of Agent (the "Purchasing Agent"). Sample 1. 21. For purposes of this Agreement, "Confidential Information" means all (a) trade secrets, confidential information, know-how, inventions, proprietary processes, designs, formulae, models, and methodologies, including designs, drawings and graphics and information about colors, fabrics and other materials, new and modified products, financial and business data and plans and related reports of each of the Parties and their respective Affiliates; and (b) other information, regardless of the form or medium in which obtained or delivered, which is proprietary to the disclosing Party. (vi) on any purchases of Merchandise occurring after the termination of the Term unless: B. the purchase is the direct result of the Purchasing Agent's efforts before that termination. (j)whether such purchase is to be made FOB or DDP. If this Agreement is terminated other than as a result of Principals exercise of its termination right pursuant to Clause 13.2(i) or (ii), or 13.3, the Minimum Sourcing Amount and the Threshold Amount for the final Agreement Year shall be appropriately prorated based on the date of termination/expiration and all Commissions payable shall be paid in accordance with the terms of this Agreement. (i) work exclusively with the Purchasing Agent in procuring the Merchandise, and not with any other agent or representative; (ii) provide the Purchasing Agent with current information about the Company's merchandise and purchasing needs and requirements; (iii) review all submitted samples and contracts, and provide clear and complete instructions to the Purchasing Agent with respect to those; and. The supplier agreed to a multiyear contract with prices that would not fluctuate more than 10% annually, and the chemical company got a 10% discount from the original quote. (220 ILCS 5/9-220) (from Ch. Agent is duly qualified to do business and (to the extent relevant) is in good standing in each jurisdiction in which it provides the Services or in each jurisdiction in which the nature of business conducted by it makes such qualification necessary. Business Operations, All 1. 1. No later than five (5) Business Days following its receipt of the Initial Notice the other Party shall notify the disputing Party of its senior management representative with respect to such Dispute and shall supplement the Initial Notice with any other Disputes for resolution not identified in the Initial Notice. Agent shall occupy and maintain facilities adequate to provide Services and perform its other obligations under this Agreement. At such time as Principal has access to Agents digital platform, ensure that delivery reports are available on the digital platform of Agent on a weekly basis; (q)Use its reasonable best efforts to ensure that Vendor arranges all transportation, inland freight, hauling, lighterage and storage, etc. The descriptive headings of the sections and subsections of this agreement are for convenience only, and do not affect this agreement's construction or interpretation. China Sourcing Agent - The Ultimate Guide - LinkedIn Agent shall provide, without charge to Principal, adequate showroom and meeting room facilities at each of Agents offices where the Services are being provided for use by Principal or its authorized representatives. 3.1. If Agent receives any funds on behalf of Principal, whether pursuant to any charge back, refund or otherwise, Agent shall, within five Business Days, remit such funds to Principal. Upon receipt of Principal's Purchase Order Terms, Agent shall place the requested order with the specified Vendor. 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. 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. You must keep documentation to show that a purchasing agent relationship exists. Agent also shall comply with all other requirements of the Licensors (as provided by or on behalf of Licensor to Agent) in connection with the production of the Ordered Products and cooperate with the Licensors in the exercise of their rights under their respective license agreements with Principals subsidiaries; (y)Conduct factory compliance audits of all Vendors in accordance with the Policies or as required by the respective Licensors prior to entering into Contracts with such Vendors that pass the audit; and manage any corrective action plans submitted by Vendors as necessary or appropriate; at Agents discretion and provided that it is permissible under Principals third party license agreements or otherwise, Principal shall notify Agent of the requirements under such third party license agreements, either conduct annual factory compliance audits of all Vendors who have entered into Contracts to ensure compliance with the Policies or waive the annual factory compliance audits if a Vendor can prove to Agent to Agents satisfaction that they are compliant under an equivalent program of the same or higher standard; (z)To the extent that the Ordered Products require quota and quota is not included in Vendors' prices, to attend to the acquisition of quota in a manner dictated by, and in the best interests of, Principal; (aa)Place Contracts in accordance with the written instructions of Principal and Clause 4.1 and communicate with Vendors on matters arising out of or in connection with the Contracts for and on behalf of Principal, provided that the resolution of any issues must be approved in advance by Principal; (bb)Maintain all records in the manner required by Principal, as necessary to comply with laws or other governmental requirements or the requirements of the respective Licensors, for six (6) years or such other period of time, as may be required to accomplish such compliance; (cc)Not furnish any Vendor any dies, molds, patterns, designs, art work, printing plates or labor without the advance approval of Principal; (dd)Include in the Contracts provisions by which the Vendors assign to Principal (or the respective Licensors, if so directed) any intellectual property rights they may have in the Ordered Products and/or the packaging and collateral materials associated therewith and ensure that all Vendors assign to all such rights to Principal or the Licensors; (ee)Ensure that any invoices in connection with Ordered Products shall contain accurate and complete descriptions of the merchandise, the names of the appropriate Vendors, and meet all other requirements set forth by the United States Customs and Border Protection and the United States Consumer Product Safety Commission. Vendor Services may include services relating to original design development, product life cycle management, LEAN manufacturing, manufacturing engineering support, market research and intelligence, capacity building, environmental and sustainability advisory services and any services relating to the manufacture or supply of any goods by Vendors. This Standard Document has integrated drafting notes with important explanations and drafting and negotiating tips. The Transfer is. 8.5. This Standard Document has integrated drafting notes with important explanations and drafting and negotiating tips. (i) was or becomes publically available other than as a result of a disclosure by the Purchasing Agent in violation of this agreement; (ii) was or becomes available to the Purchasing Agent on a nonconfidential basis before its disclosure to the Purchasing Agent by the Company, but only if: A. the source of such information is not bound by a confidentiality agreement with the Company or is not otherwise prohibited, from transmitting the information to the Purchasing Agent by a contractual, legal, fiduciary, or other obligation; and, B. the Purchasing Agent provides the Company with written notice of its prior possession either (1) before the effective date of, this agreement or (2) if the Purchasing Agent later becomes aware (through disclosure to the Purchasing Agent) of any aspect, of the Confidential Information as to which the Purchasing Agent had prior possession, promptly on the Purchasing Agent so. Any misrepresentation by Agent under this Clause 6.1(g) or any improper payment, offer, promise or demand in contravention of the foregoing undertakings, or acceptance or receipt of a payment in contravention of the foregoing undertakings, by Agent or its personnel, representatives, agents, or anyone associated with any of them shall constitute grounds for immediate termination of this Agreement and any other agreement Agent or any of its Affiliates has entered into with Principal or one of its Affiliates. notify Agent about the Major Quality Issue within five Business Days after it has become aware of such Major Quality Issue; 5.5.a.2. 1.4. Your company needs quality products at a good price. If a protective order or other remedy is not obtained or the Company grants a waiver under this agreement, the Purchasing, Agent may furnish that portion (and only that portion) of the Confidential Information that, in the written opinion of counsel. 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. Rate changes based on changes in fuel costs. An exclusive purchasing agency agreement details their role and your responsibilities to each other. 6.1.g.2. In addition, Agent shall ensure that the Vendor provides an invoice evidencing that the merchandise was produced for the account of, or was sold to, Principal. The purposes of these reporting requirements are to promote state agency contract transparency, to centralize the location of contract purchase information, and to provide the public with agency contract spending information in a searchable manner. (a) notify the other party of the Force Majeure Event and its impact on performance under this agreement; and. The agreement between the buyer and the sourcing agents is required to clearly define the duties and responsibilities. No waiver of a breach, failure of any condition, or any right or remedy contained in or granted by the provisions of this agreement will be effective unless it is in writing and signed by the party waiving the breach, failure, right, or remedy. Jamie is the founder of . 16.2. 5.2. If the chief executive officers are unable to resolve the Dispute within twenty (20) days. Contracts with Exempt Organizations - Minnesota Department of Revenue Agent shall retain and have at its disposal at all times an adequate staff of trained and qualified personnel to perform its obligations under this Agreement; provided, however, that Agent shall use reasonable efforts to consult with Principal prior to any material reductions in staff. In the event of an expiration or termination of this Agreement by either Party hereto, Agent agrees to provide Principal with reasonable access to Agent's books and records and/or Sourcing data insofar as such data relates to the Services. If you're just starting out or small, it's probably simpler to contract a purchasing agent than add one to your staff. The law of agency can be delicate and intricate. Agent shall debit Principal and Principal shall pay for the courier charges incurred by Agent in sending packages from Agent to Principal of Agent's rendition of the Services hereunder.