| |
Resources
Service/Consulting
Common Questions
Controller Retrofits
Furnace Training Seminars
Sample Business Agreement
Moisture Conversion Table
LORAC Newsletter
Sign up to receive
Update contact info
In the Industry
Suppliers
Case Study
KIC Thermal Profiling Web-site
Questions?
E-mail us
|
|
Sample Business Agreement
Dated: (date)
This agreement is between THE LORAC COMPANY, Prescott, Arizona, (Broker),
and (Seller).
Since: 1) Seller from time to time may have equipment available
for sale and wishes to sell such equipment and, 2) LORAC wishes to locate
buyers for Seller’s equipment, subject to its standard terms and conditions
set forth below, it is hereby agreed as follows:
AGREEMENT
SECTION I - LISTING & BROKERAGE:
A) Seller hereby appoints LORAC as a non-exclusive agent to locate buyers
for the equipment and LORAC will use its best efforts to do this. Since
the appointment is nonexclusive, Seller retains the right to locate
buyers not referred by LORAC. Seller also retains the right to accept
or reject any offers to buy the equipment, and to negotiate terms and
conditions of sale.
B) The Seller reserves the right to approve all of LORAC'S marketing
and advertising materials, including those appearing on the Internet.
C) Seller warrants that he is the owner of the listed equipment and
that he has legal title to and authority to sell same.
D) LORAC is not an agent of the Seller in any way other than stated
in paragraph A and Seller will not be bound by any representations made
by LORAC, other than information provided to LORAC in writing by the
Seller.
E) LORAC will have the right to disclose information received from the
Seller about the equipment being offered for sale to any prospective
buyers including; age and condition of the equipment, selling price,
and other pertinent information. 1) All equipment will be represented
to be "as-is" having no warranty or guarantee.
F) Seller agrees to promptly inform LORAC of any changes in asking price
for any items of equipment, and further agrees not to offer any listed
equipment for sale at prices lower than that quoted to LORAC.
G) Seller agrees to make the equipment available for inspection by buyers
referred by LORAC during normal business hours, by prior arrangement
with the Seller.
SECTION II - COMMISSION:
A) Any equipment that is sold by the Seller to a buyer who has been
referred to him by LORAC, Seller will pay to LORAC a commission of ten
percent (l0%) of the net selling price of the equipment. The commission
will be due and payable within thirty (30) days from the date of shipment
of the equipment to the buyer.
B) In the event of a transfer of equipment for other than money, such
as a trade, exchange, or barter, the commission due will be based on
the fair market value of the merchandise or services received by Seller
in exchange for the Equipment.
C) Commission will be due on any sale made to a buyer referred by LORAC
it such sale is made within six months of the referral date.
D) If any buyer referred by LORAC has been in contact with the Seller
prior to the LORAC referral, Seller will notify LORAC of same within
five days of the date the referral is made. If such buyer should purchase
the equipment, no commission will be due if LORAC was so notified.
E) No commission will be due on any sale made to a buyer not referred
to the seller by LORAC.
SECTION III - OTHER:
A) The Seller shall not be liable for expenses incurred by LORAC in
marketing the Seller’s equipment.
B) Any dispute between seller and LORAC that cannot be resolved by the
parties through negotiation shall be shall be submitted for arbitration
under the rules of the American Arbitration Association. If taken to
arbitration, all expenses of the prevailing party shall be repaid by
the losing party.
C) This agreement shall commence with the date of signature of both
parties, and continue until it is revoked by either party upon thirty
(30) days written notice to the other, or until such equipment is sold
or withdrawn from sale by the Seller. If the equipment is withdrawn
from sale, Seller agrees to give LORAC 15 days written notice of such
intent.
D) This agreement is the entire agreement between the undersigned Seller
and LORAC, and each warrants that the signatures below are those of
individuals with the authority to execute such agreements for the principals.
THE LORAC COMPANY (LORAC)
By: _______________________________________
Title: President
Date: August 10, 2005
Seller
By: _______________________________________
Title: ______________________________________
Date: ______________________________________
|
|
