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Commission Guarantee Agreement
"Need a Commission Guarantee Agreement for our real estate agency in Singapore, where our parent company will guarantee commission payments to our top-performing agents who exceed S$2M in sales per quarter, effective from January 2025."
1. Parties: Identification and details of the guarantor and beneficiary
2. Background: Context of the commission arrangement and reason for guarantee
3. Definitions: Key terms used throughout the agreement
4. Guarantee Obligations: Scope and extent of the guarantee commitment
5. Commission Structure: Details of commission calculation and payment terms
6. Duration: Term of the guarantee agreement
7. Enforcement: Mechanisms for enforcing the guarantee
8. Governing Law: Specification of Singapore law as governing law
1. Performance Conditions: Specific conditions that trigger commission payments - used when commission is performance-based
2. Security Provisions: Additional security measures - used when additional security is required
3. Assignment: Rights to assign the agreement - used when assignment rights are relevant
4. Force Majeure: Provisions for unforeseen circumstances - used for long-term or high-value guarantees
1. Commission Calculation Schedule: Detailed methodology for calculating commissions
2. Performance Metrics: Specific targets or KPIs related to commission earning
3. Payment Schedule: Timing and method of commission payments
4. Form of Demand: Template for making claims under the guarantee
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