Agency Agreement

• Category: Oil and Gas - Agreements
• State: Multi-State
• Control #: US-1340964BG
• Format: Word; Rich Text

Description

The term agent is derived from the Latin word “agens,” meaning to do or to act. An agent is someone who is authorized to act on behalf of another (usually the principal). Any individual capable of performing the specific functions and creating legal relations between a person (principal) and third parties can become an agent. It is not essentially required that an agent be legally capable of entering into a contract. Therefore, any individual can be an agent, i.e. a minor or a lunatic can be an agent. However, the court would ignore either’s attempt to act as s/he was so young or completely incapable of understanding the function they were attempting to perform. Agency Agreement with Agent for Sale of Buyer of Natural Gas is a contract that is entered into between a buyer of natural gas and a third-party agent who will act as the buyer's agent in the purchase of natural gas. The agreement outlines the terms and conditions of the sale, such as the type of gas being purchased, the quantity of gas to be purchased, the payment terms, and the responsibilities of the buyer and the agent. It also specifies the rights and obligations of both parties, and any other terms that are necessary for a successful transaction. The different types of Agency Agreement with Agent for Sale of Buyer of Natural Gas include: • Spot Sale Agency Agreement: This agreement is used for the purchase of natural gas on a spot basis, which means that the buyer and agent agree to purchase a specified quantity of gas at a predetermined price. • Futures Contract Agency Agreement: This agreement is used for the purchase of natural gas through a futures contract, which is an agreement to purchase a certain quantity of gas at a predetermined price on a specified future date. • OTC (Over the Counter) Agency Agreement: This agreement is used for the purchase of natural gas through an over-the-counter (OTC) transaction, which is an agreement to purchase a certain quantity of gas at a predetermined price without the use of a futures contract. • Swap Agency Agreement: This agreement is used for the purchase of natural gas through a swap transaction, which is an agreement to exchange a certain quantity of gas for a predetermined price.

Agency Agreement with Agent for Sale of Buyer of Natural Gas is a contract that is entered into between a buyer of natural gas and a third-party agent who will act as the buyer's agent in the purchase of natural gas. The agreement outlines the terms and conditions of the sale, such as the type of gas being purchased, the quantity of gas to be purchased, the payment terms, and the responsibilities of the buyer and the agent. It also specifies the rights and obligations of both parties, and any other terms that are necessary for a successful transaction. The different types of Agency Agreement with Agent for Sale of Buyer of Natural Gas include: • Spot Sale Agency Agreement: This agreement is used for the purchase of natural gas on a spot basis, which means that the buyer and agent agree to purchase a specified quantity of gas at a predetermined price. • Futures Contract Agency Agreement: This agreement is used for the purchase of natural gas through a futures contract, which is an agreement to purchase a certain quantity of gas at a predetermined price on a specified future date. • OTC (Over the Counter) Agency Agreement: This agreement is used for the purchase of natural gas through an over-the-counter (OTC) transaction, which is an agreement to purchase a certain quantity of gas at a predetermined price without the use of a futures contract. • Swap Agency Agreement: This agreement is used for the purchase of natural gas through a swap transaction, which is an agreement to exchange a certain quantity of gas for a predetermined price.