Commission Agreement Between Brokers

Commission Agreement Between Brokers Template for Singapore

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Key Requirements PROMPT example:

"I need a Commission Agreement Between Brokers for a collaboration between my Singapore-based luxury residential property agency and a commercial real estate broker, with a 60-40 commission split and exclusive rights in the Central Region, starting March 2025."

Document background

The Commission Agreement Between Brokers serves as a crucial document in Singapore's real estate industry, establishing clear parameters for collaboration between licensed real estate professionals. This agreement is particularly important when multiple brokers are involved in property transactions, requiring careful attention to commission splitting arrangements and compliance with Singapore's Estate Agents Act 2010 and CEA guidelines. It defines the scope of cooperation, commission structures, and mutual obligations while protecting the interests of all parties involved. The agreement becomes essential in scenarios involving co-broking arrangements, referrals, or collaborative property transactions.

Suggested Sections

1. Parties: Identification and details of the brokers entering into the agreement

2. Background: Context of the agreement and relationship between the parties

3. Definitions: Key terms used throughout the agreement including relevant regulatory definitions from Estate Agents Act

4. Commission Structure: Details of commission rates and splitting arrangements between brokers

5. Payment Terms: Timeline and method of commission payments, including invoicing requirements

6. Obligations of Parties: Duties and responsibilities of each broker, including compliance with CEA regulations

7. Term and Termination: Duration of agreement and circumstances for termination

8. Compliance: Obligations to comply with relevant laws including Estate Agents Act and AML requirements

9. Dispute Resolution: Process for resolving disputes between the parties

10. General Provisions: Standard contractual provisions including governing law and notices

Optional Sections

1. Non-Compete: Restrictions on competing activities within specified geographical areas or property types

2. Exclusivity: Terms of exclusive collaboration between the brokers

3. International Transactions: Special provisions for handling cross-border property transactions

4. Confidentiality: Provisions for handling confidential information and client data

5. Marketing and Branding: Terms regarding joint marketing efforts and brand usage

Suggested Schedules

1. Commission Rate Schedule: Detailed breakdown of commission rates for different types of transactions

2. Territory Schedule: Definition of geographical areas covered by the agreement

3. Property Types Schedule: List of property types covered under the agreement

4. Service Level Agreement: Detailed performance standards and expectations for both parties

5. Compliance Checklist: Checklist of regulatory requirements and necessary documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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
Commercial Property
Residential Property
Investment Property

Relevant Teams

Real Estate Operations
Legal
Finance
Compliance
Business Development

Relevant Roles

Real Estate Broker
Property Agent
Agency Director
Compliance Officer
Business Development Manager

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Let's create your Commission Agreement Between Brokers

Authors

Alex Denne

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