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Brokers Fee Agreement
"I need a Brokers Fee Agreement for a Dubai-based real estate brokerage firm, with exclusive rights to market luxury properties and a tiered commission structure ranging from 2-5% based on property value, which must include specific RERA compliance provisions."
1. Parties: Identification of the broker and the client, including their full legal names, licenses, and registration details
2. Background: Context of the agreement, including the broker's qualifications and the client's intention to engage brokerage services
3. Definitions: Key terms used throughout the agreement, including specific industry terminology and regulatory references
4. Scope of Services: Detailed description of brokerage services to be provided, including specific markets or asset classes covered
5. Broker's Obligations: Detailed responsibilities of the broker, including regulatory compliance, professional conduct, and service delivery standards
6. Client's Obligations: Client's responsibilities, including providing accurate information and necessary documentation
7. Fee Structure: Detailed breakdown of brokerage fees, payment terms, and conditions for fee earning
8. Payment Terms: Specific details about payment timing, method, and consequences of non-payment
9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
10. Confidentiality: Obligations regarding confidential information handling and protection
11. Compliance with Laws: Commitment to comply with relevant UAE laws and regulations, including AML requirements
12. Dispute Resolution: Process for handling disputes, including jurisdiction and applicable law
13. General Provisions: Standard contractual provisions including notices, amendments, and severability
1. International Transactions: Additional provisions for cross-border transactions and international clients
2. Exclusivity: Terms regarding exclusive rights of the broker, if applicable
3. Sub-Brokers: Provisions for engaging other brokers or intermediaries
4. Insurance and Liability: Specific provisions about professional indemnity insurance and limitation of liability
5. Marketing and Promotion: Terms regarding the broker's rights to market the property or service
6. Digital Services: Provisions for online or digital brokerage services
7. Force Majeure: Provisions for unforeseen circumstances affecting performance
8. Data Protection: Specific provisions for handling personal and sensitive data
1. Schedule A - Fee Schedule: Detailed breakdown of all applicable fees, commissions, and payment structures
2. Schedule B - Service Description: Detailed description of specific services covered under the agreement
3. Schedule C - Required Documentation: List of documents required from the client for different types of transactions
4. Schedule D - Compliance Checklist: Regulatory compliance requirements and documentation checklist
5. Appendix 1 - Broker's Licenses: Copies of relevant broker licenses and registrations
6. Appendix 2 - Standard Forms: Standard forms and templates used in the brokerage process
7. Appendix 3 - Territory Map: If applicable, geographical area covered by the agreement
8. Appendix 4 - Code of Conduct: Professional standards and ethical guidelines applicable to the broker
Authors
Real Estate
Financial Services
Insurance
Commercial Trading
Investment Banking
Commodities Trading
Securities Trading
Property Development
Asset Management
International Trade
Legal
Compliance
Finance
Sales
Business Development
Operations
Risk Management
Commercial Operations
Contract Administration
Investment Advisory
Broker
Real Estate Agent
Financial Broker
Compliance Officer
Legal Counsel
Contract Manager
Business Development Manager
Sales Director
Chief Financial Officer
Risk Manager
Commercial Director
Operations Manager
Managing Director
Investment Advisor
Property Manager
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