agency agreement

An agency agreement under the Law is an agreement where the contractor acts as an intermediary in the formation of a sales contract between his client and potential buyers. The contractor in this situation is also referred to as ‘commercial agent’ and the client as ‘principal’.

Agency

The commercial agent does not sell his own goods for his own risk and expense, but receives provision over the share The portion of registered capital of a private or public limited company
» Meer over share share of the realised sales of the principal. The difference between an agency agreement from a Brokerage agreement is that the latter is mostly intended for one specific contract. An agency agreement is intended to provide for a durable long-term business relation.