Agreement Between Principal and Monopoly Agent (India)
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.
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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