Signature Exclusivity Agreement Template Made Easy

Signature exclusivity agreement template

hello Michael and thank you for asking this question I'm sure other people have this question as well and I'm going to do my best to answer it this question was asked by Michael in my friend Steven Black's unstoppable FBA marketing hacks for Amazon sellers Facebook group it's an awesome group check it out if you haven't been there yet steven has so much awesome content there I mean so much so anyway Michael asks I know it's recommended to hire a Chinese lawyer for N and n agreements but do you guys usually hire a lawyer for purchase agreements as well or do you use an online template and have an only an English version thanks okay well whenever you're dealing with sourcing in another country you want to follow that country's legal system so when I source in China I have a Chinese attorney and when I source in other countries and my source in the US have a us-based attorney right so I highly recommend that you hire a Chinese attorney an attorney in China how can you find one of those well you can ask your us-based attorney to recommend someone in China and then you know it's on them to to do some due diligence and and recommend somebody really good for you so I have an attorney in China he is amazing and he does many things for me first of all I love Michael that you brought up and n agreements so everyone might be wondering what is an N and an agreement and why does it matter well an NNN agreement is covers three areas non-disclosure non circa Benson and non-compete and so instead of just doing an NDA a non-disclosure agreement we do often in the US before we've patented a product or something like that we want to in China do an end in and agreement and so it's important that this end in that agreement is in both Chinese and English and that the supplier signs it with their actual Chinese name not the English name that they give you like Bob's widgets that's just a fun name that they make up it's not what they're actually registered with and it won't actually hold up in a china court of law so you want to make sure that the agreement that you have done is written in Chinese and in English and that they actually sign it with their Chinese name that is registered in China as a Chinese business right so that if things were to have to go to court that would be the name that's on the agreement all right if I sign an agreement here in the US and I sign it as Bob O'Leary you know it's I'm gonna be like well this Agreement says it's Bob O'Leary that signed it and I I can't be responsible for that that's not any wheeze or any of my businesses so you you want to make sure that it's their company so the reason you want to use a Chinese attorney is because number one they can look over the agreement and they can make sure that the person that signed it is actually registered but that's their real company name that they're actually registered and secondly that the they actually are signing it with the proper stamp in China they have to use a seal when they sign it's a red seal and it has to be on the document in order for it to hold up in court so in a recent deal that I'm doing right now with the factory the fact actually signed it with their import-export company's name and they didn't they didn't use the Red Seal they used like a blue stamp with some Chinese look very official I don't know my Chinese attorney looked at it and said Amy this is not the name that matches that matches their signature block and this is not the name that is registered for their Factory in here in China so if you were to sue them you would that you would have problems right this is not hold up in court so that would be a problem right so then the second part of your question Michael is so the bottom line is you guys want to make sure that you have a Chinese attorney drop in NNN agreement you don't use some boilerplate that you got in a course because even if I used a boilerplate and I did I used a boilerplate agreement and I sent it to my Chinese attorney and he was like actually it looks pretty good I made a couple of tweaks but he showed me he looked and saw that this this Factory was not signing it the way that they needed to sign it and then he called them and talked with them to ensure that you know they were attaching attaching their their company like license and registration and everything was legit right and that didn't cost me that much money it was like a couple hundred bucks right so it's it's very worthwhile to take the time to hire a Chinese a train the other document it's with back to your question the other document that my Chinese attorney does for me is a document called general conditions and the general conditions document goes along with the NNN agreement goes along with the purchase order and it covers all of the legal aspects of the order so for example the warranty on the goods if I order this product and in six months all the seams start coming apart that would be covered under this warranty be able to get my money back right the other things that it covers is like delivery timelines and guidelines so if they promise to deliver within a certain date and it's now ninety to a hundred and eighty days later and I still don't have my goods well that's a problem my business is losing money you want to have a document that's going to protect you a contract that's going to protect you so that is the other document that I have my Chinese attorney do as the general conditions document and that can be renewed over time like it doesn't have to you know as I reorder over time we can just update the dates and we don't have to redo that from scratch every time so that is the second document so NNN agreement and in Chinese and English make sure it's signed by the right people with the red stamp and then your general conditions document covers your warranty your order your timelines all of that kind of stuff and then you do the thing the other things I do is a spec document so this is where I put all of the information of my the details of my product so if I'm ordering this water water container here I'm going to make sure that I say okay there's a line here and there's a line here and the bottom is rubber and the cap looks like this and it's this wine and it's you know this long and it's made of this material and it comes with the straw and all of these things and I'm going to attach that spec document to the purchase order so that that way there's no questions and then the final thing that I also do is I always have an inspection done so this inspection I always have an inspection company I love kima I love the trust both of them are really good inspection companies I have them go in and inspect the goods you can do it halfway through production if it's a brand new company that you haven't worked with before you can do it halfway through production they can kind of take a look at it that way all the goods aren't produced and they're all wrong and then you could do one final inspection in AQL inspection before your goods leave the factory so those four elements right there are going to protect you they're going to make sure that you have a solid order that you have solid legal protection and if anything happens that you are good to go that you're you're not going to lose your entire investment I hope this has been super helpful let me know if you have any questions and thanks again for asking the questions so that everybody can learn