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Business Broker Contract
"I need a Business Broker Contract for my Lagos-based real estate company, establishing an exclusive arrangement with a broker to handle commercial property sales with a 5% commission structure and a minimum three-month engagement starting January 2025."
1. Parties: Identification of the business broker and the client with full legal names and addresses
2. Background: Context of the agreement and brief description of the parties' intentions
3. Definitions: Key terms used throughout the agreement including 'Transaction', 'Commission', 'Confidential Information', etc.
4. Appointment and Scope: Formal appointment of the broker and detailed scope of services to be provided
5. Broker's Rights and Obligations: Detailed responsibilities of the broker including marketing, negotiation, and documentation duties
6. Client's Rights and Obligations: Client's responsibilities including providing information, cooperation, and exclusive listing terms if applicable
7. Commission Structure: Detailed breakdown of fees, commission rates, and payment terms
8. Confidentiality: Obligations regarding confidential information handling and non-disclosure provisions
9. Term and Termination: Duration of the agreement and circumstances for termination
10. Post-Termination Rights: Rights and obligations that survive after agreement termination, including tail period provisions
11. Warranties and Representations: Statements of fact and promises made by both parties
12. Limitation of Liability: Extent and limitations of broker's liability
13. General Provisions: Standard clauses including notices, amendments, governing law, etc.
1. Non-Compete: Restrictions on broker's ability to work with competing businesses - used when dealing with sensitive or competing interests
2. Success Fee Structure: Additional performance-based compensation terms - used for complex transactions or high-value deals
3. International Transactions: Specific provisions for cross-border deals - included when international business sales are anticipated
4. Multiple Listing Services: Terms for listing on various platforms - relevant when using multiple marketing channels
5. Dispute Resolution: Detailed arbitration or mediation procedures - recommended for high-value contracts
6. Force Majeure: Provisions for unforeseen circumstances - particularly relevant in uncertain market conditions
1. Schedule A - Services Description: Detailed list of specific services to be provided by the broker
2. Schedule B - Commission Rates: Detailed breakdown of commission structures, including any sliding scales or special provisions
3. Schedule C - Marketing Plan: Specific marketing strategies and channels to be used
4. Schedule D - Required Documentation: List of documents and information required from the client
5. Appendix 1 - Confidentiality Agreement: Detailed NDA terms for use with potential buyers
6. Appendix 2 - Due Diligence Checklist: Standard checklist for information gathering and verification
7. Appendix 3 - Reporting Templates: Standard formats for progress reports and updates
Authors
Business Services
Professional Services
Real Estate
Manufacturing
Retail
Technology
Healthcare
Hospitality
Financial Services
Construction
Agriculture
Energy
Transportation
Education
Telecommunications
Legal
Business Development
Mergers & Acquisitions
Corporate Finance
Compliance
Risk Management
Executive Leadership
Commercial Operations
Advisory Services
Investment
Business Broker
Managing Director
Chief Executive Officer
Business Development Manager
Legal Counsel
Corporate Lawyer
Mergers & Acquisitions Manager
Business Owner
Chief Financial Officer
Commercial Director
Compliance Officer
Risk Manager
Company Secretary
Investment Manager
Transaction Advisory Manager
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