Agreement between a Company and Sole Selling Agents
This Agreement made on this .. day of . Between . Ltd. (hereinafter referred to as the company ) having its registered office and factory at .. , of the one part and .. Ltd., carrying on business at . (hereinafter called the sole selling agents) of the other part.
Whereas the company is engaged in the manufacture of cotton and textiles, polyester, fibre yarn, suitings and Shirtings.
And Whereas the sole-selling agents are the whole-sale traders in suitings and shirtings and other textile goods in Eastern India with headquarter at Kolkata.
And Whereas the company in its general meeting held on has decided to appoint . Ltd. as the sole-selling agents for Eastern India for whole-sale business of the companys manufactured suitings and shirtings and the Central Government has also approved the appointment of the said sole-selling agents vide letter NO ..dated
And Whereas it is agreed between the parties that the company shall appoint Ltd. as the sole selling agents for the suitings and shirtings manufactured by the company and the said .. Ltd, have agreed to act as the sole-selling agents for the company.
Now This Agreement Witnesses As Follows :
That the company appoints . Ltd, Kolkata as the sole-selling agents for the Eastern India including the States of . for the suitings and shirtings manufactured by the company and the said sole-selling agents will have the exclusive right and authority to sell whether in cash or on credit and procure the orders for sale of the said product of the company in any manner in the territories mentioned above.
The appointment of sole-selling agents shall take effect from 1st day of ., and shall operate for a period of five years from the said date without prejudice to the right of reappointment but subject to the approval by the Company in general meeting and also subject to the approval by the Central Government as required under section 294 of the Companies Act, 1956, and Rule 2 of the Companies (Appointment of Sole Agents) Rule, 1975.
The sole-selling agents shall have the right to operate in the entire territories of Eastern India as mentioned above either directly or through their branch offices, associates or sub-agents for giving effect to this agreement.
The sole-selling agents in consideration their selling and procuring orders for the sale of the companys products shall be paid a commission at a rate not exceeding 30% but determinable by the mutual agreement of the parties at the commencement of every year on sales effected by them at agreed intervals of time on the amount actually collected by them in accordance with the incentive rates on the amount collected, agreed to, and described in the Schedule hereinafter annexed.