Common Contracts
1 similar Imfpa Contract & Agreement contracts
IMFPA CONTRACT & AGREEMENT TEMPLATEImfpa Contract & Agreement • November 8th, 2022
The IMFPA Agreement (Irrevocable Master Fee Protection Agreement) is a type of contract used in foreign trade, mainly for the purchase of commodities or merchandise negotiated in bulk (food, raw materials, minerals), whose objective is to protect the fee of the intermediary (broker) than mediates in the transaction. The fee is only paid, either for the buyer or the seller or both, when the transaction is completed and is automatically transferred from the buyer´s or seller's bank account to the broker´s account. The fee is usually a commission in the form of percentage on the value of the merchandise purchased. The IMFPA Fee Protection Agreement is generally undertaken with other contracts such as the International Broker Contract.
