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Free Download - Deed of transfer: forms of extending clauses,divesting, consideration and value clauses.

Mixture of Clauses comprising of details relating to the transfer of property.

R0.00

incl VAT

Free Download - Agreement / sale of intellectual property

Memorandum of agreement setting out the details of assignment of intellectual property rights with all the necessary clauses including: assignment, breach, warranty, governing law etc.

R0.00

incl VAT

Free Download - Executor’s notice to lodge claims against a deceased estate for publication in a newspaper

Notice to debtors and creditors calling all persons who have a claim against the deceased estate to bring forth their claims.

R0.00

incl VAT

Free Download - Power of attorney to obtain letters of executorship

Power of attorney to obtain letters of executorship in an intestate estate

R0.00

incl VAT

Free Download - Combination of promissory notes

Promissory note by a single maker Promissory note by joint and several makers Promissory note payable by instalments Promissory note containing pledge of collateral security Promissory note made payable at a particular place Promissory note made by a company

R0.00

incl VAT

Free Download - Agreement for sharing commission between agent and subagent

Agreement for Sharing Commission Between Agent and Subagent

Agreement between agent and sub-agent whereby the principal has appointed the sub-agent and sets out the terms of the agreement.

The general rules regarding commission include the following
If there is no agreement as to remuneration (which as a matter of good practice there should be) the agent is entitled to remuneration customarily allowed to agents for the type of goods involved in the area where the agent carries on his activities. If there is no such customary practice, the agent is entitled to reasonable remuneration.

Where remuneration is wholly or partly commission based, there are general rules dealing with entitlement to commission payments, commission on transactions concluded after the end of the agency contract, apportionment of commission between old and new agents, and when commission becomes due.

The principal must provide statements of commission quarterly and the agent must be provided with all available information which he needs to check the amount of commission due to him.

Sub-agents

A sub-agent is a person whom the original agent employs in the business of the agency and who is under the control of the original agent. Thus the relation of the sub-agent to the original agent is, as between themselves, that of the agent and the principal.

Sub-agency denotes delegation of power by an agent to a person appointed by him as sub-agent, meaning that the agent himself is a delegate of his principal. According to this, a person to whom powers have been delegated to cannot delegate them to another.

Generally, an agent cannot lawfully employ another to perform acts but, if by the ordinary custom of trade a sub-agent may be employed, the agent may choose to do so.

There is no obligation for the principal to pay commission to the sub- agent, only to the agent that he employed. The principal is obligated to pay commission to his agent.

If a sub-agent is properly appointed, the principal is, insofar as third parties are concerned, represented by the sub-agent and is bound by and accountable for his acts as if he were an agent originally appointed by the principal. The agent is responsible to the principal for the acts of the sub-agent and the sub-agent is responsible for his acts to the agent, but not to the principal, except in case of fraud or wilful wrongdoing.

Thus, a commission agent for the sale of goods who makes a proper employment of a sub-agent for selling his principal’s goods is liable to the principal for the fraudulent disposition of the goods by a sub-agent within the course of his employment.

Where an agent appoints a person to act as a sub-agent without authority from the principal, the agent will be liable for the sub-agent’s acts both to the principal and to third persons. In that case, the principal is not represented by or liable for the acts of the sub-agent, nor is the sub-agent liable to the principal.

A clause can be added to the main agreement between the principal and the agent for purposes of appointing a sub-agent. The clause may read as follows: “The agent shall be entitled, without prior consultation, to appoint sub-agents to perform any part of the services and such sub- agent may enter contracts with service providers on behalf of the principal as if they were the original agent. The agent shall remain responsible for the actions of its sub-agents in relation to the services performed”.

The first thing that the original agent should do is solidify the percentages of how much the subagent will get for bringing over new buyers. If the subagent is guaranteeing and collecting all of the losses for the buyers, than the standard commission in the pay per head industry would be anywhere from 20% to 50%. When a subagent is just getting buyers but is not responsible if they pay or not, than the main agent generally gives the subagent a much smaller commission percentage with a figure of around 5% to 15%.
Regardless of what percent a subagent is getting it is extremely important to carefully monitor all new buyers that are from any subagent.

It is also important not to give the subagent any rights to make adjustments, delete wagers, move lines, or create receipts or disbursements. Any of these rights could result in a subagent trying to cheat or steal from the main agent.

Remuneration

The principal undertakes to pay to the agent, as consideration for the services provided by the agent, the commissions and fees agreed between the parties and a sum equivalent to all disbursements (subject, in the case of disbursements, to the agent providing reasonable and documented evidence that such disbursements have been incurred). The agent is entitled to share this remuneration by appointing a sub- agent to assist with the principal’s services.

In the event that:

• any fees, commission, disbursements or expenses due from the principal to the agent remain outstanding following the expiry of the period for settlement of such invoices; and
• the agent or any affiliate of the agent is in possession of funds belonging to the principal in any jurisdiction, then the agent and such affiliate of the agent may, at any time, set off such funds against the due and unpaid fees, commission, or disbursements outstanding.

In the event that:

• the agent or any affiliate of the agent is in possession of funds paid by the principal to the agent or any affiliate of the agent; and
• any sums, fees, payments, commissions, disbursements or expenses due from the principal to the agent or any affiliate of the agent under any other contractual arrangement are outstanding, then the agent and/or such affiliate of the agent may, at any time, set off such funds against the due sums, fees, payments, commission, disbursements or expenses outstanding under the other contractual arrangement.
Where the use of the funds for such set off results in insufficient cleared funds being available to the agent to pay for actual or anticipated disbursements, the agent shall be entitled to refuse to provide some or all of the services until such shortfall is made good by the principal.






R0.00

incl VAT

Free Download - Notarial Surety bond agreement

Notarial bond agreement whereby there is a surety who is held responsible simultaneously liable with the principal debtor, setting out the details of the agreement as well as the terms and conditions of the agreement.

R0.00

incl VAT

Free Download - Application for the rectification of error in the conditions in terms of s4(1)(b) of the Deeds Registries Act

Application for the correction of the conditions stipulated in the title deed and sets out the incorrect conditions as well as the correct conditions to replace the error.

R0.00

incl VAT

Free Download - General rights for preference shares

Document setting out the general rights relating to preference shares.

R0.00

incl VAT

Free Download - Consent of the bondholder to the opening of a sectional title register

Consent by the bondholder to the opening of a sectional title register and the issuing of a certificate accordingly.

R0.00

incl VAT

Free Download - Application for the certificate of registered title of an undivided share in land

Application in terms of s34 of the Deeds Registries Act for the certificate of registered shares in a land with the description thereof.

R0.00

incl VAT

Free Download - Definitive statement and explanatory statement form

Form D6- detailing the articles to which the design is to be applied as well as explaining that this is the official design as required by the Regulation to the Act.

R0.00

incl VAT

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