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Agency Agreement

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Agency Agreement

 

 

It is a legal document that authorizes a person [agent] to act on behalf of another [principal] pertaining to certain work or project. The agent will be made to do certain duties and works of the principal and will be paid with consideration for the same.

eStartIndia is an online legal service platform where a team of expert legal professionals from India, offering a variety of legal services relating to Agency Agreement, Master Agreement, Consultancy Agreement, legal notices, negotiable instruments, company registrations, intellectual property, tax services, personal and property services.

eStartIndia will help you to register an Agency Agreement from the comfort of your home, offering you services that are very specialized and tailored as per your requirements.

Get a free consultation for Agency Agreement with Our Top Rated Experts with a simple registration.

 

Why Choose eStartIndia For Agency Agreement?

This organization comprises of expert legal professionals, who use their expertise will draft your agreement that shall cover all the legal requirements and needs of the parties. The experience and the knowledge that our professionals hold can help you in including clauses in your agreement that shall effectively describe the relationship between the parties as well as avoid confusion or difficulties in the future.

We also have arrangements for timely addressing of client’s issues and a team to keep you updated about the process.

 

ADVANTAGES OF AGENCY AGREEMENT

IMPROVES CLARITY: The agreement involves a detailed description of the nature of work and terms of lending the trade name and business of franchisor which negates the scope of doubts between the parties.

GUARDS THE PARTIES: The parties express their will, rights, and duties in an agreement which reduces the scope of disputes between the parties in the future.

PROOF: It acts as evidence that expresses the duties and rights which the parties have agreed on.

SCOPE OF CONFIDENTIALITY:  Involves clauses that state the compliance with any confidentiality that the parties may prescribe in their contract.

INTELLECTUAL PROPERTY RIGHTS: The ownership rights and usage rights of a trademark or trade name will be clearly distinguished in the agreement that will establish the rights of parties very clear.

 

CONTENTS

  • Name and details of parties.

  • Date of contract.

  • Nature of business.

  • Purpose of authorization.

  • Term of agreement.

  • Cost.

  • Terms of payment.

  • The remedy for infringement of rights or misuse of terms or non-compliance with the agreement.

  • Circumstances for termination/recession of the agreement.

  • Conditions of usage of trade name or trademark.

  • Confidentiality terms (if any).

 

Registration Process

The executor has to identify the parties and then lay down all the details required in a written or printed format, most advisable with the assistance of a professional. There is no general prescribed format for drafting an agreement of agency but a basic standard format with all necessary details shall be accepted by every state. The agreement shall be signed by both parties.

Click here to read more about the “Account Opening Resolution”

 

For any company, be it a private limited company, Limited Liability Partnership or one-person company in order to open a bank account they have to pass a resolution. The resolution will decide upon the person authorized to use the bank account on behalf of the company as well as the bank where the account will be created. If the company desires to open an account in various other banks, Account Opening resolution has to be made separately for each bank accounts.

eStartIndia is an online legal service platform where a team of expert legal professionals from India, offering a variety of legal services relating to legal notices, negotiable instruments, company registrations, intellectual property, tax services, personal and property services.

eStartIndia will help you to register a Private Limited Company from the comfort of your home, offering you services that are very specialized and tailored for each individual.

Get a free consultation for Account Opening Resolution with Our Top Rated Experts with a simple registration.

 

Why Choose eStartIndia For Account Opening Resolution?

This organization comprises of expert legal professionals, who use their expertise will draft a resolution that shall cover all the legal requirements and needs of the parties. The experience and the knowledge that our professionals hold can help you in including clauses in your agreement that shall effectively describe the relationship between the parties as well as avoid confusion or difficulties in the future.

 

DOCUMENTS REQUIRED TO BE SUBMITTED TO THE BANK FOR ACCOUNT OPENING RESOLUTION

  1. Articles of Association.

  2. Memorandum of Association.

  3. List of the Directors.

  4. Resolution document.

  5. Registration Certificate/COI.

  6. THE ID of authorized signatories.

Click here to read more about the “Partnership Deed

 

Registration Process

PROCEDURE FOR ACCOUNT OPENING RESOLUTION

The company has to convene a Board meeting as per the requirements of the Company Law and pass a resolution by attaining a majority on the matter of where the bank account as to be created. The members should elect persons authorized to handle the bank accounts in this meeting and the final resolution shall have details of the bank and authorized persons. The resolution must be printed down on a paper having a company’s letterhead. A copy of the resolution can be kept with the company and the original with other required documents must be submitted to the bank where the company desires to open a bank account.

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