Common use of Rights and Obligations of the Principal Clause in Contracts

Rights and Obligations of the Principal. 3.1. Rights of the Principal 3.1.1. The Principal shall be entitled to exercise control over the Agent’s activities as to the fulfillment of his agency functions and authorities stipulated in the present Agreement. 3.1.2. The Principal shall be entitled to give binding instructions to the Agent, related to the conditions of fulfillment of obligations being the subject of the present Agreement. 3.1.3. According to the terms and conditions of the present Agreement, the Principal shall be entitled to request and obtain the Agent’s detailed report on fulfillment of the Agent’s obligations assigned to him for the fulfillment of the present Agreement. 3.1.4. The Principal shall be entitled to conclude agency agreements with any other persons without any limitations, at the Principal’s discretion and on the Principal’s terms. 3.1.5. The Principal shall be entitled to carry out activities similar to the Agent’s Activities hereunder in any place and within any territory individually and without any limitations. 3.1.6. The Principal shall be entitled to expect that the Agent will conscientiously fulfill all terms of the present Agreement upon the most favorable for the Principal terms and in due time. 3.1.7. The Principal shall be entitled to dispose at the Principal’s discretion and on the Principal’s own account of all and any information obtained by the Agent during the execution of the present Agreement. 3.1.8. The Principal shall be entitled to obtain an accurate and detailed report from the Agent within the time limits prescribed by the present Agreement. 3.1.9. The Principal shall be entitled to render informational support and other assistance to the Agent during the execution of the present Agreement, which includes representation of the Agent on the official website of the Principal and in other accessible information sources. 3.1.10. The Principal shall be entitled to establish Customer relationships in an appropriate for the Principal way, which includes refusal to open an account, to accept orders, closure of account within the scope of the agreement concluded with the Customer, as well as to change any terms and conditions of the present Agreement informing the Agent with due advance. 3.1.11. If the Agent’s actions contravene the interests of the Principal and could impair business image and reputation of the Principal, or if reasonable doubts regarding the Agent’s good faith could arise, the Principal shall be entitled to unilaterally repudiate the present agreement without any payments and compensations to the Agent. 3.1.12. If there is any error in the calculation of the Agent’s Commission Fee discovered by the Principal, the Principal can recalculate the sum of the Agent’s Commission Fee. 3.1.13. The Principal shall have other rights provided for by the provisions of the present Agreement and effective legislation.