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The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. In some states, element of consideration can be satisfied by a valid substitute.
Key clauses in an Agency Agreement should include:A detailed breakdown of the duties and responsibilities of both parties.The geographic region in which the Agent will operate.Whether the Agent will have exclusive or non-exclusive rights.The rate, method and timing of payments.Any non-compete agreement.More items...?
Write the contract in six stepsStart with a contract template.Open with the basic information.Describe in detail what you have agreed to.Include a description of how the contract will be ended.Write into the contract which laws apply and how disputes will be resolved.Include space for signatures.
The simple answer is YES. You can write your own contracts. There is no requirement that they must be written by a lawyer. There is no requirement that they have to be a certain form or font.
Creating an Agency AgreementExpectations of the agency agreement.Specific services of the agent.Geographical location of the agreement.Payment amount and terms.The process of dispute resolution.An agreement on governing law.Duration of the partnership agreement.