The agreement also defines the duration of the contract, the geographical area where the agent can operate, and any performance benchmarks or targets that must be met. Additionally, it may include confidentiality clauses, non-compete clauses, and dispute resolution mechanisms to handle any disagreements that arise. Termination conditions are also outlined, detailing the circumstances under which the agreement can be ended by either party. By clearly defining these terms, a Commission/Agency Agreement helps prevent misunderstandings and ensures a transparent and fair relationship between the principal and the agent, providing legal protection for both sides.
Commission/Agency Agreement
KShs 5,600
A Commission/Agency Agreement is a legally binding contract between a principal (employer) and an agent (employee or independent contractor) that outlines the terms and conditions under which the agent will earn commissions for their services. This agreement typically includes key elements such as the effective date, names and addresses of both parties, and a detailed description of the services or products involved. It specifies the commission structure, including how and when commissions will be calculated and paid.
