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Broker To Broker Commission Agreement
"I need a Broker to Broker Commission Agreement for a collaboration between our Dubai-based real estate agency and an international broker from London, with a 60-40 commission split for luxury property deals above AED 10 million, to be effective from March 2025."
1. Parties: Identification of the participating brokers, including their full legal names, license numbers, and registered business addresses
2. Background: Context of the agreement, including the purpose of the collaboration and general scope of brokerage activities
3. Definitions: Key terms used throughout the agreement, including specific real estate terminology and commission-related definitions
4. Scope of Collaboration: Detailed description of how the brokers will work together and share information
5. Commission Structure: Clear outline of commission rates, calculation methods, and split arrangements between brokers
6. Payment Terms: Timing and method of commission payments, including invoicing requirements and payment deadlines
7. Representations and Warranties: Confirmations regarding broker licenses, authorizations, and compliance with UAE regulations
8. Confidentiality: Obligations regarding confidential information shared between brokers
9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
10. Dispute Resolution: Process for resolving disputes, including jurisdiction and applicable law provisions
11. General Provisions: Standard legal clauses including notices, amendments, and severability
1. Exclusivity: Terms regarding exclusive cooperation for specific properties or clients, used when brokers agree to work exclusively
2. Cross-Border Transactions: Additional provisions for international transactions, needed when dealing with overseas properties or clients
3. Marketing Collaboration: Terms for joint marketing efforts and cost sharing, used when brokers plan joint promotional activities
4. Sub-Brokerage: Provisions for involving additional brokers, needed when sub-brokers may be engaged
5. Professional Indemnity: Additional insurance and liability provisions, used for high-value or complex transactions
6. Data Protection: Specific provisions for handling personal data, needed when dealing with EU clients or substantial data sharing
1. Schedule 1 - Commission Rates: Detailed breakdown of commission rates for different types of properties and transaction values
2. Schedule 2 - Territory Definition: Specific geographical areas or property types covered by the agreement
3. Schedule 3 - Required Documentation: List of documents required for commission claims and payment processing
4. Schedule 4 - Broker Licenses: Copies of current broker licenses and registrations
5. Schedule 5 - Communication Protocols: Agreed procedures for sharing property information and client details
6. Appendix A - Standard Forms: Templates for commission invoices, property referrals, and other standard documentation
Authors
Real Estate
Property Development
Financial Services
Property Management
Commercial Property
Residential Property
Luxury Real Estate
Property Investment
Legal
Real Estate Operations
Finance
Compliance
Business Development
Property Sales
Commission Administration
Contract Management
Risk Management
Real Estate Broker
Senior Property Consultant
Managing Director
Business Development Manager
Property Sales Manager
Real Estate Agency Owner
Commission Manager
Compliance Officer
Real Estate Operations Manager
Property Transaction Specialist
Chief Executive Officer
Legal Counsel
Finance Manager
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