Sole Agent Agreement
This agreement is entered into between the parties concerned on the basis of equality and mutual benefits to develop business on terms and conditions mutually agreed upon as follows:
The parties concerned:
Party A(Supplier): Shenzhen Security Group Corporation Limited
2nd-6th floor,D Building,No。18,North Area of Makan Industrial Park,Xili Town,Nanshan District,518055,Shenzhen,China。
(Hereinafter called party A)
Party B(Agent): XXX XXX Inc。
Tel: XXX XXX
Fax: XXX XXX
(Hereinafter called party B)
After friendly negotiation, Party A and Party B come to an Sole Agent Agreement below, both parties must abide by the agreement:
Article One: Party B’s Agent Territory and Products
1。1 Party B agent party A's XXX(eg IP MMS CAMERAS) series products, no other product of party A。
1。2 Party B’s agent City is: XXX(eg。 London)。 Party B will be the sole agent of XXX series products in this district, party A will protect party B's market, party A will no longer export the same products to the third party including end buyers from the same agent territory。 Any enquiries party A received will be transferred to party B。 Party A cannot export same agent products to Party B's agent territory and so do Party B。
1.3 After Party B be party A’s sole agent, the way to evaluate whether party B have completed the turnover task is the total amount that party B have remitted to party A‘s beneficiary account every quarter(three months one quarter).
Article Two: Party B’s Agent Period
2.1 Party B’s agent period start from: XXX (eg. Oct 20,2010)
2.2 Party B’s agent period stop at: XXX (eg. Oct 20,2011)
This sole agent agreement is valid for one year period only。 If party B completed one year’s turnover, then this agreement will be valid to next year automatically。
2.3 During the agent period, if party B failed to complete any quarter’s turnover within the one year agent period, party B will lose the sole agent rights automatically. Party A won’t protect party B’s agent market any more and party A have the rights to develop any new sole agent in the same terriroty. Party B will be party A’s distributor and the export price will be distribution price, not sole agent price.
Article Three: Party B’s Turnover during the Sole Agent Period
3.1 Party B will be party A’s sole agent at the above mentioned territory if the total value of party B’s first order reach US$50,000. And the commodities of US$50,000 should be delivered over during 3 months.
3.2 Sole Agent’s turnover will be checked every quarter, totally four times within one year agent period. if party B failed to complete any quarter’s turnover, party B will lose the sole agent rights automatically. After the first US$50,000 remittance and become party A’s sole agent, party B should remit at least US$50,000 at the 4TH month, in a word, party B should remit at least US$50,000 at the first month of each quarter during the sole agent period.
3.3 If party B’s previous quarter’s remittance amount over US$50,000, then the extra payment can be part of the next quarter’s remittance. BUT if the next quarter’s remittance amount over US$50,000, the extra payment cannot be part of the previous quarter’s remittance.
3。 4 During the agent period, if party B failed to complete any quarter’s turnover within the one year agent period, party B will lose the sole agent rights automatically。 Party A won’t protect party B’s agent market any more and party A have the rights to develop any new sole agent in the same terriroty。 Party B will be party A’s distributor and the export price will be distribution price, not sole agent price。
Article Five: Agent Price and Payment Terms
5.1 Party A will supply party B the best sole agent price to expand the local agent market. Sole agent price will be negotiable. Payment method: T/T.
5.2 If party B purchase party A’s Alarm Report Center(CMS) software and party B completed every quarter’s turnover US$50,000. Then party A will refund party B commodities(total value will be as same as CMS software charges) when party B’s total turnover reach US$200,000 during the agent period.
Article Six: Aftersales Service
Free warranty for five years for non-human damage. Party B will afford come and back two journey’s shipment freight cost. In addition, if party B have technician team and party A can analyse the problem remotely, then party A can send spare electronic components to party B and party B repair the faulty ones by yorself.
Article Six: Other Agreements
The sole agent agreement is in duplicate. Each party holds one copy. It will be in valid after receiving the scanning paper signed and sealed by both parties. If any party disobey the above agreement, the other party have the rights to apply for legal arbitration in their mother country.
Party A (Supplier) Party B (Agent)
Shenzhen Security Group Co。, Ltd XXX Inc
2nd-6th floor,D Building,No.18, XXXXXX
North Area of Makan Industrial Park, XXXXXX
Xili Town,Nanshan District,518055, Tel: XXX XXX
Shenzhen,China。 Fax: xxx xxx
AUTHORIZED SIGNATURE AUTHORIZED SIGNATURE