This form is a Commission Agreement. A company agrees to appoint an agent to handle certain duties described in the contract. The company agrees to pay the agent a commission on all total sales.
Commission Agreement General Form Statement Form In Massachusetts
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A commission contract is a contract between two parties, by which the principal (the person offering goods or services for sale) and the commission agent (the person commissioned to sell goods or provide services on behalf of the principal) agree on the terms of the sale of goods or services.
The Employer calculates percentages based on the business's profit on the sale. For example, if the Representative makes a sale of $6,000, the commission would be calculated at 7%. If the profit margin on this sale is $2,500, then the Representative earns $175.
This clause should detail the percentage or fixed amount of commission, the basis for calculating it (e.g., gross sales, net sales), and any thresholds or quotas. For example: The Sales Representative shall earn a commission of X% on all gross sales exceeding Threshold Amount made during the term of this Agreement.
Ratification is simply the end of the process where both parties agree on a contract's terms and conditions. This means that, with a voidable contract, the parties can jettison some or all of the old T&Cs and replace them with new ones that better meet both their needs.