If you are planning to begin a business venture, you may need to enter an agency agreement with a third party. This agreement is a legally binding document that outlines the terms and conditions of a partnership between two parties: the agency and the principal. In this article, we will provide an agency agreement sample to help you understand the key elements of this legal document.
Agency Agreement Sample
The Agency agrees to provide the following services to the Principal:
1. Scope of Services: The Agency will provide marketing and advertising services to the Principal for a period of twelve (12) months from the effective date of this agreement.
2. Payment: The Principal agrees to pay the Agency a fee of $10,000 per month for the services provided. The payment shall be made on the first day of each month.
3. Duration: This agreement shall remain in effect for a period of one year from the effective date of this agreement.
4. Termination: If either party wishes to terminate this agreement, they must provide a written notice to the other party at least thirty (30) days in advance.
5. Confidentiality: The Agency agrees to maintain the confidentiality of all proprietary information of the Principal and shall not disclose it to any third party without the Principal’s prior written consent.
6. Intellectual Property: All intellectual property rights, including but not limited to trademarks, patents, and copyrights, shall remain with the Principal.
7. Representations and Warranties: The Agency represents and warrants that it has the necessary skills and expertise to provide the services described in this agreement, and that the services will be performed with reasonable care and diligence.
8. Indemnification: The Agency agrees to indemnify and hold harmless the Principal from all claims, liabilities, damages, and expenses arising out of or related to the services provided by the Agency.
9. Governing Law: This agreement shall be governed by and construed in accordance with the laws of the State of [Insert State Name] without giving effect to any choice of law or conflict of law provisions.
10. Entire Agreement: This agreement contains the entire understanding of the parties and supersedes all prior agreements and understandings, whether oral or written.
Conclusion
The above agency agreement sample demonstrates the key elements of a legal document between the agency and the principal. It is important to note that this sample agreement should be used as a guide only, and parties should seek legal counsel for any specific needs or requirements. By having a clear and detailed agreement in place, both parties can avoid misunderstandings and conflicts down the line.