Agrement between Hermann Loog and Frister & Rossmann
1. That Hermann Loog will act as their sole agent for the sale of their sewing machines in Great Britain and Ireland until 31st December, I889, and thence forward from year to year, unless determined by six calendar months' notice on either side.
2. That Hermann Loog will not sell or deal in, directly or indirectly, sewing machines of any other make, but this clause shall not prevent Loog from disposing of any patents which he may possess. Four of 1883, and certain others.
3. Frister & Rossmann will from time to time consign to Hermann Loog
as many sewing machines as they in their discretion may
think fit,
but all goods so sent shall remain the absolute
property
of
Frister
& Rossmann.
4. Hermann Loog shall not, without consent in writing, establish any retail depots for the sale of goods of Frister & Rossmann, or exhibit the same at any exhibition.
5. Hermann Loog shall keep the account of the agency hereby constituted
in separate books, which together with all papers whatsoever, concerning
the agency shall be the property of Frister & Rossmann
and shall at all times during business hours be open to the firm of
Frister & Rossmann, or anybody representing them.
6. Hermann Loog shall use his best endeavours to procure payment of all
money for goods disposed by him, and in default he shall be personally
liable only for money received.
7. The cash and bills and other securities received by the said H.
Loog, as agent under this agreement shall, within three days after
they have been received, be paid into or deposited with the Bank
to the credit of the German Company (Frister & Rossmann)
which account shall only be drawn upon by Frister & Rossmann, or
the joint signatures of Hermann Loog and a person to be nominated
by Frister and Rossmann.
8. Hermann Loog shall send to Berlin weekly statements showing sales effected,payments made, and expenses incurred, and all other matters taking place in relation to the agency during the week.
9. Frister & Rossmann shall allow £450 a year on account of rent,
and also the amount actually expended by Loog in travelling expenses,
not to exceed £200 a year, and the salaries to clerks and
other assistants, which shall have been previously approved by
Frister & Rossmann, also all premiums on insurance, freights,
rates, taxes, &c, on account of the agency, and to allow him
commission of 5 percent, on all the sales, such commission to be
paid half-yearly, 30th June and 31st December.
10. The said Hermann Loog shall execute and assign two policies for
£10,000 already effected on his own life, and such policies shall be
held as security for the due fulfilment of this agreement, and the
agreement made between Frister & Rossmann and Hermann Loog, Limited,
of even date herewith. The said Hermann Loog hereby agrees to
of foot the said policies, and send the premium receipts to
Frister&Rossmann immediately payment has been made.