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5 Things You Need in a Purchasing Agent Agreement

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If you are looking into hiring a purchasing agent, especially an international purchasing agent, you will want to look into purchasing agent agreements. Purchasing agent agreements act as a contract between you and your agent, that lays out the purchasing agent responsibilities and description of what will be purchased. If the products or goods that you will be buying are of high value, you will likely want to include a lawyer or an attorney in this process to ensure that the transactions all go smoothly. Below are just a few things that you will want to make sure are included in your purchasing agent agreement.


Parties

The first things you will want included in your agreement are the names of the parties. This includes your name, the name of the purchasing agent and any other parties who are involved. You may want to include the name of the party who you will be purchasing from, as well as the name of any attorneys involved in the process.


Dates

Within the purchasing agent agreement, you will want to include dates. The first date you will want to have is the date that the agreement is effective. You may also want to include the date, or dates, that you expect your purchase to be made. This makes sure that you receive your products or goods in a timely manner.


Product Description

After including the parties and dates, you will want to describe the products or goods that the purchasing agent is to buy. In this section, you will want to be as specific as you can to ensure that you are always getting exactly what you are expecting. Be sure to include brand names, product numbers, colors, and anything else you can think of that might get forgotten in the shuffle of the purchase.


Territory

After describing the products or goods, you will want to identify the territory where the agent will be purchasing them. While this is important for purchasing agents in U.S.A, it is highly important for those who are purchasing internationally. At this point, you may also want to determine the cost of tax, as well as any import or export costs associated with this territory. You may also want to include how the products will be shipped, as some shipping methods are better than others. Air cargo, for example, is likely the shortest transportation method. The short transportation time of air cargo, and tight control over air cargo shipping, decreases the risk of damage to products, ensures a higher quality delivery, and even allows cargo to be transported in a more environmentally friendly fashion.


Compensation

The final item that you will want to include in your agreement is the compensation. In other words, how much will you be paying the agent for their purchasing agent duties? Do your research before agreeing to any amounts to make sure that you are receiving the fairest price possible. Also be sure to account for travel costs, as well as the cost of their time.

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