AGREEMENT BETWEEN PRINCIPAL AND MONOPOLY AGENT

AGREEMENT BETWEEN PRINCIPAL AND MONOPOLY AGENT

This agreement is made on this ______ day of ____________, 20____, between Mr. ____________________, S/o ____________________, doing business at ____________________ under the name and style of ____________________ (hereinafter called the "Principal") of the One Part;

And ____________________ & Co., carrying on business at ____________________ (hereinafter called the "Agent") of the Other Part, to the following effect:

Whereas the party of the One Part is engaged in the import of various goods, and the party of the Other Part is engaged in the business of clearing of those goods from the customs authority, etc.;

Now the party of the First Part appoints the party of the Other Part as its monopoly agent for the clearing, lifting and handling of goods imported by them, on the following conditions:

1. That, as my agent, you would operate the above indent and arrange with the manufacturers for despatching the goods early and handing them over directly to you or your nominee (to which I hereby agree); and on that account you would provide the requisite finance, including carriage/delivery charges, which shall firstly be reimbursed out of the sale proceeds thereof, as hereunder stipulated.

2. You shall furnish regular reports about the progress made by you, maintaining proper accounts of all receipts and expenses, which shall be open to inspection by me once a week.

3. That for handling/lifting the goods, you would also represent me for all purposes and intents before the manufacturers, viz., ____________________, in all their offices, and also before other proper authorities including Banks, Post Offices, Railways, Roadways and carrying companies, etc., for making the goods to be indented readily available to you straightaway, and to negotiate for and complete the sale and disposal thereof, in lots or altogether, at a price or prices acceptable to you, directly or through brokers and/or agents. You will also collect and keep with you all such sale proceeds, and give good, valid receipts and discharges thereof.

4. I shall at once intimate to you the receipt of the despatch advice from the producers; and on your making and/or arranging the requisite payment and obtaining release of the necessary documents (and the storage of the goods at your godown, for which purpose you are also hereby expressly empowered), the same shall be endorsed and/or transferred by me simultaneously in your favour.

5. If any demurrage/damage occurs to the goods due to any act, default or negligence by you in making and/or arranging payments and/or in obtaining release of documents, the same shall be borne/paid by you personally. I shall remain liable for any loss/mischief to the goods caused by my act, default, negligence or mistaken judgment; such loss shall be debited to my account with you.

6. I shall deliver, or cause to be delivered, to you such further or other deeds/writings, if any, when necessary, addressed to the proper authorities, to enable you to pay the required money and obtain delivery of the documents and the related goods; and I shall not take delivery of the documents or the goods myself, nor authorize anybody to do the same on my behalf, nor charge them or any portion thereof in any way.

7. In case of any short or non-delivery of goods, you shall have the right to lodge claims and sue the railways/roadways or carrying companies for the required reliefs, and to recover damages/compensation on that score.

8. In all circumstances, the concerned documents will be delivered to you directly by the manufacturers, at once, against payment; and I shall be liable to reimburse you for all losses suffered due to any act, negligence or default by me in delivering the documents, or in withholding the same, or otherwise dealing with the materials without your express agreement first had and obtained, which agreement you may deny at your complete discretion.

9. You will remain acting as my handling agent until the whole consignment (which is at present decontrolled) is sold by you.

IN WITNESS WHEREOF the parties have set their hands on the day, month and year first above-written.

DATE: ____________
PLACE: ____________

Principal: ________________________

Agent: ________________________

WITNESSES:
1. ________________________
2. ________________________