Agreement between Principal and Monopoly Agent
Re: Works Order No. …………… U/S. …………… of ………..
Referring to my personal discussions with your Mr. …………………… I write to confirm that I have had this day irrevocably appointed you as my sole and monopoly agent for the purpose of financing, clearing, lifting and handling the goods to be indented against Works Order quoted above and I hereby further nominate and appoint you as my constituted attorney in that behalf on inter alia the following terms and conditions:
1. That as handling agents you would operate the above indent and arrange with the manufacturers for early despatch of the goods and delivery thereof direct to you or your nominee (which I hereby consent) for which purpose you would arrange for the requisite finance, including carriage and delivery charges, at the first instance, all to be reimbursed out of the proceeds of sale thereof as hereunder contemplated.
2. You will furnish me with regular reports about the progress made by you, keep and maintain proper account of all receipts and expenses which shall be available for my inspection, once a week.
3. That for the purpose of handling and lifting the goods, you would also represent me to all intents and purposes before the manufacturers, viz, …………………… in all its offices and also before other appropriate authorities including Banks, Post Offices, Railways, Roadways and Carrying Companies etc., so as to make the goods to be indented readily available to you straightway and to negotiate for and complete the sale and disposal thereof in lots or altogether at price or prices acceptable to you directly or through brokers and/or agents. You will also collect and keep in your custody all proceeds of such sale or sales and give good, valid receipts and discharges thereof.
4. You will immediately be intimated of the receipt of despatch, advice from the producers by me and when you are to make and/or arrange for the requisite payment and obtain release of the necessary documents (and storage of the goods at your godown for which purposes you are also hereby expressly authorized) which shall be endorsed and/or transferred by me simultaneously in your favour.
5. If, however, there occurs any demurrage or damages to the goods due to any act, default or negligence on your part in making and/or arranging the payments and/or in obtaining release of documents, the same will be borne and paid by you personally. Similarly, I shall remain liable for any loss or mischief to the goods, if those are caused by any act, default or negligence or error in judgment on my part. Such loss shall be debited to my account with you.
6. I shall deliver or cause to be delivered to you such further or other deeds or writings if any when necessary addressed to appropriate authorities to enable you to pay the requisite money and obtain delivery of documents and also the goods concerned and shall not take any delivery of the documents nor the goods myself nor authorize anybody to do the same on my behalf or charge nor encumber them or any portion thereof in any way.
7. In case of any short delivery or non-delivery of the goods, you shall have the right to lodge claims and sue the railways or roadways or carrying companies for necessary reliefs and recover damage or compensation on that account.
8. Under all circumstances, the relative documents will be handed over to you directly by the manufacturers immediately against payment and I shall remain responsible to reimburse you for all losses, suffered on account of any act, negligence, default on my part in effecting delivery of the documents or withholding the same and otherwise dealing with the materials without your consent in writing first had and obtained, which consent you may refuse in your absolute discretion.
9. You will continue to act as my handling agents until the entire consignment (which is at present decontrolled) is sold by you.