An example of the existence of an agency agreement, which was the subject of legal proceedings dating back to 2006, came when a sponsor of a tennis tournament sued Venus and Serena Williams who had not participated. The sponsor claimed that his father, Richard Williams, had committed to participate in the tournament. The Williams sisters argued that their father did not have the authority to match them to such an agreement. If his father forced the sisters to play, the court had to decide whether there was a valid agency agreement between the Williams sisters and their father. If not, they were probably not bound by its agreement in accordance with Agency law. [must update] If you make an agreement, you want to protect your interests, whether you are the client or the agency. It is essential that, before signing an agreement, you always make sure that both parties have already agreed to the terms of the agency agreement. And note that this is not just an ordinary agency agreement, but a well-developed agreement. If you need examples of agency contracts, you are covered by models and examples of agency contracts in this article. You can easily download and customize these examples or use them as a guide when you write your contract.
Whatever the written good of your agreement, it will have no legal value if one or both parties have intentionally forgotten or missed the signing of the agency contract. Once the agency agreement is reached, the agent and the client must sign two copies. Each party is also required to keep a copy of the agreement, which means that neither party can make excuses for not being familiar with the terms when they have to return to their copy. You may also consider that your agent contract is signed by a notary to limit problems related to the agent or the client`s signature. An agency agreement is reached when a person, known as an «agent,» is authorized by another person, the so-called client, to act on behalf of the client. A principle that assigns an agency to an agent establishes a legal relationship with the agent. Agency agreements are important to businesses because you can meet with them if you ask a seller, accountant, lawyer or other third party to make transactions on your behalf. Clearly define the line by explicitly specifying the rights and obligations of each party involved in the agency agreement. Start with the definition of the rights and obligations of the adjudicating entity.
It also means having full control over the activities to be carried out by the agent. If the agent commits a serious fault, the agreement should explicitly state the limits of the client`s commitments. Then, the Agency`s rights and obligations will be provided. These include the right to collect a commission as soon as they meet the conditions of the agency agreement and the right to obtain decisive instructions and consultations from the adjudicator authority in the implementation of the terms of the agency agreement.