A typical agency agreement is a legal contract that outlines the terms and conditions of a business relationship between a client and an agency. This agreement is usually signed by both parties before any work commences to ensure there is clarity on the expectations, payment terms, and deliverables.
There are different types of agency agreements, including marketing, advertising, and public relations. However, most agreements typically include the following clauses:
1. Scope of Work: This clause outlines the specific services the agency will provide to the client. It also highlights any limitations or exclusions to the services provided.
2. Fees and Payment: This clause specifies the fees for the services provided, payment schedules, and any additional costs the client may incur.
3. Deliverables: This clause defines the final output the agency will deliver to the client and the timeline for each deliverable.
4. Intellectual Property: This clause outlines the ownership of any intellectual property developed during the agency-client relationship.
5. Confidentiality: This clause ensures that any confidential information shared between the client and the agency remains confidential.
6. Termination: This clause outlines the conditions that would lead to the termination of the agency-client relationship.
7. Warranties and Representations: This clause outlines the warranties and representations made by both parties. It also highlights any limitations on these warranties and representations.
It`s important to note that these clauses are not exhaustive, and agency agreements may include additional clauses depending on the nature of the relationship and industry.
In conclusion, a typical agency agreement is a crucial document that protects both the client and agency`s interests. It outlines the services offered, payment terms, deliverables, confidentiality, termination, and other important details. As such, both parties should carefully review and understand the agreement before signing it.