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Agreement Between Broker And Buyer

Agreement Between Broker And Buyer Template for United Arab Emirates

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Key Requirements PROMPT example:

Agreement Between Broker And Buyer

"I need an Agreement Between Broker And Buyer for an exclusive arrangement with a Dubai-based broker to find luxury residential properties, with a 6-month exclusivity period starting January 2025 and including international property search capabilities."

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Document background
The Agreement Between Broker And Buyer is a crucial document in UAE real estate transactions, designed to protect both parties' interests while ensuring compliance with local regulations. It is typically used when a buyer engages a professional real estate broker to assist in property acquisition within the UAE. The agreement captures essential elements including the scope of the broker's services, commission structures, exclusivity terms (if any), and specific property requirements. It must comply with UAE Federal Laws, RERA regulations (in Dubai), and equivalent authorities in other emirates. This document is particularly important in the UAE's dynamic real estate market, where clear documentation of the broker-buyer relationship helps prevent disputes and ensures transparency in property transactions. The agreement should be drafted in accordance with UAE Civil Code requirements and may need to be bilingual (Arabic/English) depending on the parties involved.
Suggested Sections

1. Parties: Identifies the broker (including license details) and buyer with full legal names and addresses

2. Background: Sets out the context of the agreement, including the buyer's intention to purchase property and the broker's role

3. Definitions: Defines key terms used throughout the agreement including 'Property Requirements', 'Commission', 'Exclusive Period' if applicable

4. Appointment and Scope of Services: Details the broker's appointment and specific services to be provided

5. Term of Agreement: Specifies the duration of the agreement and any renewal provisions

6. Broker's Obligations: Lists the broker's duties, responsibilities, and service commitments

7. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate information and cooperation

8. Commission Structure: Details the broker's fees, payment terms, and conditions for commission earning

9. Confidentiality: Addresses the handling of confidential information shared during the engagement

10. Termination: Specifies conditions and process for ending the agreement

11. Governing Law and Jurisdiction: Confirms UAE law governance and jurisdiction for disputes

12. General Provisions: Standard clauses including notices, amendments, and entire agreement provisions

Optional Sections

1. Exclusivity: Used when the broker is appointed as exclusive agent for the buyer

2. International Transactions: Added when dealing with international property purchases

3. Property Search Criteria: Detailed section used when specific property requirements need to be documented in the main agreement

4. Sub-Agents: Include when the broker may need to engage other agents or partners

5. Force Majeure: Added for longer-term agreements to address unforeseen circumstances

6. Language: Required when agreement is in multiple languages, specifying which version prevails

7. Anti-Money Laundering: Added for high-value transactions or when dealing with international buyers

Suggested Schedules

1. Schedule 1 - Service Details: Detailed breakdown of services to be provided by the broker

2. Schedule 2 - Commission Structure: Detailed commission calculations and payment terms

3. Schedule 3 - Property Requirements: Detailed specification of buyer's property requirements

4. Schedule 4 - Broker's Credentials: Copies of broker's licenses and registrations

5. Appendix A - Power of Attorney: If broker is given any specific authorities to act on buyer's behalf

6. Appendix B - Required Documents: List of documents required from buyer for property purchase

7. Appendix C - Compliance Checklist: RERA and other regulatory compliance requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


































Clauses




































Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Retail Property

Industrial Property

Hospitality

Mixed-Use Development

Legal Services

Financial Services

Relevant Teams

Legal

Real Estate

Compliance

Sales

Business Development

Operations

Contract Administration

Client Relations

Risk Management

Document Control

Relevant Roles

Real Estate Broker

Property Consultant

Real Estate Agent

Legal Counsel

Compliance Officer

Property Manager

Sales Director

Business Development Manager

Contract Manager

Real Estate Transaction Manager

Client Relations Manager

Chief Legal Officer

Real Estate Operations Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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