Agreement Between Principal and Monopoly Agent (India) by OLL
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AGREEMENT BETWEEN PRINCIPAL
AND MONOPOLY AGENT
This agreement is made on this................. day of............ 2018,
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 one part is engaged in import of various goods and party of others part is engaged in the business of clearing of those goods from custom authority etc.,
Now the party of first part appoints the party of other part as its monopoly agents for clearing lifting and handling of goods import by them on following conditions:-
1. That as per agents party of other part would be operating above indent and arrange with manufacturers for despatching the goods early and handing over thereof direct to you/your nominee (which I hereby agree) for on that account you would provide requisite finance, including carriage/delivery charges, firstly which be reimbursed out of sale proceeds thereto as hereunder stipulated.
2. Regular reports about progress made by you maintaining proper account of all receipts and expenses which shall be inspection, once a week by me shall be furnish by you .
3. That for handling/lifting the goods, you would also represent me for all purposes and intents before the manufacturers, viz, ........................ in all its 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 straightway and to negotiate for and complete the sale and disposal thereof in lots or altogether at price or prices acceptable to you directly or through brokers and/or agents. You will also collect and keep with you all such sale/sales and give good, valid receipts and discharges thereto.
4. You will at once be intimated of the receipt of despatch, advice from the producers by me and on making and/or arranging requisite payment and obtaining release of necessary documents (and storage of the goods at your godown for which purposes you are also hereby expressly empowered) which shall be endorsed and/or transferred by me simultaneously in favouring you.
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This agreement establishes a relationship where a principal appoints a monopoly agent to handle the clearing, lifting, and distribution of imported goods. The agent is responsible for logistics, financing initial charges, and negotiating sales, while the principal provides necessary documentation and reimburses expenses.
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About this template
What is this template?
This is an exclusive commercial agency contract for the logistics and sale of imported goods. It contains specific financial mechanisms where the agent front-loads carriage costs and is uniquely empowered to collect sale proceeds directly from buyers to reimburse those costs. It is not a general employment contract or a simple one-off service agreement.
When should you use it?
Use this when an importer requires a single partner to handle the entire lifecycle of a shipment from customs to final sale. Use a non-exclusive Service Agreement instead if the importer intends to use multiple agents for different consignments.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Appointment and Financing | The Agent provides requisite finance for carriage and delivery charges, which are later reimbursed from the sale proceeds of the goods. |
| 2 | Reporting and Inspection | The Agent must furnish regular progress reports and maintain accounts of receipts and expenses, subject to the Principal's weekly inspection. |
| 3 | Representation and Sale | The Agent is authorized to represent the Principal before customs, banks, and transport companies to negotiate and complete the sale of goods. |
| 5 | Demurrage and Damages | The Agent is personally liable for demurrage or damages caused by their negligence in making payments or obtaining document releases. |
| 7 | Claims and Compensation | The Agent has the right to lodge claims and sue carrying companies for short-delivery or non-delivery of goods to recover compensation. |
| 9 | Duration of Agency | The Agent continues to act as the handling agent until the entire consignment is sold. |
Who it's for
- an Indian importer needing a sole agent to manage customs clearance and subsequent sale of imported consignments
- a clearing and forwarding agent seeking exclusive rights to handle and finance the lifting of specific imported goods
How long it runs and how it's signed
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