An Exclusive Sales Agency Agreement is an official business contract between a principal (the buyer or seller) and their dedicated sales agent. This agreement outlines the terms, conditions and responsibilities of both parties, such as performance expectations, compensation for services rendered, and the duration of the agreement. It also grants the sales agent exclusive buying or selling rights to the products or services offered by the principal, allowing them to maintain control over their products and preventing competition from other agents. A well-drafted Exclusive Sales Agency Agreement helps ensure that each party meets all of their obligations under the contract and allows them to benefit mutually from the arrangement.