Which of the following best describes an agent agreement's content?

An agent agreement primarily outlines the obligations and responsibilities of both the agent and the principal. This essential aspect of the agreement ensures clarity in the business relationship, detailing what each party is expected to do. It includes commitments such as the scope of the agent's authority to act on behalf of the principal, the responsibilities regarding communication and reporting, and any exclusive rights or limitations on the agent's activities.

The focus on obligations helps protect both parties and provides a framework for accountability, ensuring that the agent acts in the best interest of the principal while fulfilling the responsibilities outlined in the agreement. This clarity helps to prevent misunderstandings and conflicts, fostering a successful working relationship.

Other aspects, such as terms for applying for credit, instructions for conducting customer surveys, and guidelines for product manufacture, while important in their respective contexts, do not encapsulate the core focus of an agent agreement. Instead, they pertain to different domains of business operations and relationships. The central theme of obligations makes the second option the most fitting description of an agent agreement's content.