The Tennessee Area Representative Agreement is a legal contract that outlines the relationship between a company or organization and an individual or entity that will act as a representative for a specific area within the state of Tennessee. This agreement allows the appointed representative to market, promote, sell or distribute the company's products or services within their designated territory. Key terms and clauses in the Tennessee Area Representative Agreement include: 1. Territory: The agreement specifies the geographical area within Tennessee where the representative will operate. This could be a specific county, city, or multiple regions. 2. Appointment: The agreement states that the company appoints the representative as its exclusive or non-exclusive representative within the designated territory. An exclusive agreement means that the representative is the sole representative in that area, while a non-exclusive agreement allows for multiple representatives. 3. Obligations: The agreement outlines the responsibilities and obligations of the representative, which may include marketing and promoting the company's products or services, attending trade shows or events, conducting sales activities, and providing regular reports or updates to the company. 4. Compensation: The agreement details the compensation structure for the representative, such as a commission on sales, a fixed fee, or a combination of both. It may also include provisions for reimbursement of expenses incurred during the representation. 5. Term and Termination: The agreement specifies the duration of the representation, whether it is for a fixed term or an ongoing relationship. It also includes provisions for termination, such as breach of contract, non-performance, or mutual agreement. 6. Intellectual Property: The agreement may address the protection of the company's intellectual property, trademarks, copyrights, and any restrictions on the representative's use of such materials. Types of Tennessee Area Representative Agreements may include: 1. Product-Specific Representative Agreement: This type of agreement designates a representative to promote and sell specific products or product lines within the given territory. 2. Service-Based Representative Agreement: This agreement focuses on representing and marketing specific services offered by a company within a designated area. 3. Exclusive Territory Representative Agreement: In this agreement, the representative is granted exclusive rights to represent the company in a specific territory, ensuring no other representatives will be appointed for that area. 4. Non-Exclusive Territory Representative Agreement: This agreement allows multiple representatives to be appointed for the same territory, fostering competition while expanding the company's reach within Tennessee. In conclusion, the Tennessee Area Representative Agreement is a legally binding contract that establishes the role and responsibilities of a representative in promoting and selling a company's products or services in a specific area of Tennessee. It clarifies the terms of the representation, the compensation structure, and the rights and obligations of both parties involved.
Tennessee Area Representative Agreement
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There must be a written agency agreement for a designated agency to arise. There are no implied agencies in Tennessee, because Tennessee law states that a written agreement is required to create an agency agreement.
After investigation, the Commission can seek criminal prosecution against those it finds are operating or practicing without a license. It can also seek an injunction to prohibit further unlicensed activities. The Commission cannot recover or order the refund of any money or property to which you may be entitled. Tennessee Real Estate Commission File a Complaint - TN.gov tn.gov ? regboards ? trec ? consumer ? com... tn.gov ? regboards ? trec ? consumer ? com...
Agency law in Tennessee states that an agency relationship does not exist without a bilateral, written agency agreement between the licensee and the buyer or seller. An agency disclosure form, or confirmation of agency status, is NOT an agreement! A GUIDE TO TENNESSEE'S AGENCY LAW Greater Chattanooga REALTORS ? uploads ? subpage ? TR... Greater Chattanooga REALTORS ? uploads ? subpage ? TR... PDF
The disclosure of agency status must be confirmed in writing with an unrepresented seller prior to execution of a listing agreement or presentation of an offer to purchase, whichever comes first. 62-13-405 - Written disclosure. :: 2010 Tennessee Code - Justia Law justia.com ? title-62 ? chapter-13 ? part-4 justia.com ? title-62 ? chapter-13 ? part-4
A buyer representation agreement is a contract between a real estate agent and the buyer to form an exclusive representation relationship. The contracted agent acts as the buyer's agent in the real estate transaction. The buyer gets the agent's expertise in locating a property and real estate negotiations. Buyer Representation Agreement | Definition, Types & Examples study.com ? academy ? lesson ? buyer-representat... study.com ? academy ? lesson ? buyer-representat...
The law is very clear: an agency relationship can be created in only one way ? through a written agency agreement with a consumer.
Note that there are two types of agency: (1) actual, either express or implied, and (2) apparent. The relationship of an agent and a principal may also arise by estoppel, necessity or operation of law.
An implied agency is a formal agreement between the client or principal and the listing agent. It does not include any documentation or writing. An implied agency in real estate is established when the principal hires the agent to help him with the transactions and other relevant tasks involved in purchasing a home.