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Broker Fee Contract Template for Singapore

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Key Requirements PROMPT example:

Broker Fee Contract

"I need a Broker Fee Contract for a Singapore-based real estate broker who will be providing exclusive services for our commercial property portfolio, with a tiered commission structure and success fees for transactions above SGD 10 million, starting March 2025."

Document background
The Broker Fee Contract is essential for establishing clear terms of broker compensation in Singapore's regulated environment. This document is typically used when engaging brokerage services for transactions in real estate, financial instruments, or other assets. The contract must comply with Singapore's Estate Agents Act, CEA regulations, and relevant financial services legislation. It outlines the scope of services, fee structures, payment terms, and obligations of all parties while incorporating necessary regulatory compliance measures. The document serves as a crucial tool for protecting both broker and client interests in professional service arrangements.
Suggested Sections

1. Parties: Identification of broker and client with full legal names and addresses

2. Background: Context of the brokerage relationship and purpose of agreement

3. Definitions: Key terms used throughout the agreement including relevant regulatory definitions

4. Scope of Services: Detailed description of brokerage services to be provided

5. Fee Structure: Broker's compensation, payment terms, and conditions

6. Term and Termination: Duration of agreement and termination provisions

7. Obligations of Parties: Responsibilities of both broker and client

Optional Sections

1. Exclusivity: Exclusive rights of broker, used when exclusive arrangement is agreed

2. International Transactions: Additional provisions for cross-border dealings

3. Special Asset Classes: Specific provisions for particular types of assets

Suggested Schedules

1. Fee Schedule: Detailed breakdown of all applicable fees and commission structures

2. Service Level Agreement: Specific performance metrics and service standards

3. Required Documents: List of documents required from client for various transactions

4. Compliance Checklist: Regulatory compliance requirements and procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Industries

Estate Agents Act 2010 (Chapter 95A): Primary legislation governing real estate agencies and agents in Singapore, covering licensing requirements, professional conduct standards, and commission guidelines

Council for Estate Agencies (CEA) Regulations: Regulatory framework including Professional Service Manual, Practice Guidelines, and Code of Ethics and Professional Client Care for estate agents

Securities and Futures Act (Chapter 289): Legislation governing financial securities brokerage, including licensing requirements and commission structures for financial products

Contract Law (Chapter 2): Fundamental legislation governing contract formation, terms and conditions, rights and obligations of parties, and remedies for breach

Consumer Protection (Fair Trading) Act: Law ensuring fair trading practices, protection against unfair practices, and proper disclosure requirements in business transactions

Personal Data Protection Act 2012: Legislation governing the handling of client personal information, data protection obligations, and consent requirements

Goods and Services Tax Act: Tax legislation covering GST implications on brokerage fees and related tax reporting requirements

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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