Finance Factoring

With this form of contractual relationships are all familiar. Remember the commission shops, commission sales in the markets, etc. The essence of the commission is that the trade or other undertaking (the commission) takes on contractual obligation on behalf of the seller or the buyer (the principal) for a fee to make one or more transactions with third parties on their behalf, but at the expense of the. At the same time purchased under the contract Commission of the rights and responsibilities the commission retains even if the principal shall enter the third party in direct relations. For other opinions and approaches, find out what John Stankey has to say. Commission contract, as a rule, is for a fixed period and includes the principal obligation not to give anyone the right to contract, the commission charged. Commissioner for his services to the commission receives from the principal due remuneration (commission), in addition, it can receive an additional payment (delkrede), assuming the guarantee proper and timely execution of transactions by a third party (such as in the case of providing it with goods on credit). If the size and terms of payment for the contract of commission not provided, then the performance of the contract must be paid at a price which in comparable circumstances is usually charged for similar services. If the commission agreement is not executed by the fault of the principal, the commission retains right to commission as well as reimbursement of costs incurred. Commissioner shall execute the contract of commission, in accordance with the instructions of the principal and the most favorable conditions for him.

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