Agent Agreement

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Scope of Authority

Agent’s agreement needs to outline the tasks, responsibilities, and limitations, including whether the agent has authority to enter contracts, make decisions, or represent the principal. Defining authority scope prevents misunderstandings and aligns both parties on the agent's role.

Compensation Structure

The agreement should specify how compensation to be calculated for all conditions and/or milestones impacting payment. Clear compensation terms prevent disputes and ensure the agent is properly motivated to fulfill their duties.

Termination Provisions

Clear definition of termination conditions safeguards the interests of both parties and provides a roadmap for ending the relationship amicably if necessary. In Agent Agreement, we need to pay closest attention to the termination clauses in the agreement. Understand the circumstances under which either party can terminate and the notice periods involved. Also, consider including provisions for termination with or without cause.