Broker Service Agreement Template for Austria

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Key Requirements PROMPT example:

Broker Service Agreement

"I need a Broker Service Agreement under Austrian law for my real estate agency, which will be providing exclusive property brokerage services to corporate clients in Vienna, with a minimum commitment period of 24 months starting March 2025."

Document background
The Broker Service Agreement is a vital legal document used in the Austrian market to formalize the relationship between professional brokers and their clients. This agreement is particularly important given Austria's specific regulatory requirements under the Maklergesetz and related commercial laws. It is typically employed when engaging brokers for various professional services, including real estate transactions, financial services, insurance, or business brokerage. The document addresses key aspects such as service scope, commission structures, compliance with Austrian regulations, data protection requirements, and professional standards. It's designed to protect both parties' interests while ensuring compliance with Austrian legal requirements, including mandatory disclosure obligations and professional responsibility standards.
Suggested Sections

1. Parties: Identification of the broker and the client, including full legal names, registration numbers, and addresses

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

3. Definitions: Key terms used throughout the agreement

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

5. Broker's Rights and Obligations: Core responsibilities and rights of the broker, including information obligations under MaklerG

6. Client's Rights and Obligations: Core responsibilities and rights of the client, including cooperation requirements

7. Commission and Payment Terms: Structure and timing of broker compensation, including success fees and expense reimbursement

8. Term and Termination: Duration of the agreement and termination provisions

9. Confidentiality: Protection of confidential information and trade secrets

10. Data Protection: GDPR compliance and data handling procedures

11. Liability and Indemnification: Limitation of liability and indemnification provisions

12. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction

13. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments

Optional Sections

1. Exclusivity: Used when the broker is granted exclusive rights for specific transactions or territories

2. Insurance Requirements: Include when specific professional insurance coverage is required

3. Non-Compete: Added when restrictions on competitive activities are necessary

4. Consumer Protection Provisions: Required when the client qualifies as a consumer under KSchG

5. Compliance with Anti-Money Laundering: Include for financial or real estate brokers subject to AML regulations

6. Force Majeure: Added when specific provisions for unforeseen circumstances are needed

7. Assignment and Subcontracting: Include when transfer of rights or use of sub-brokers needs to be addressed

8. Marketing and Branding: Used when the broker has rights to use client's branding or marketing materials

Suggested Schedules

1. Schedule 1 - Service Description: Detailed breakdown of specific brokerage services and deliverables

2. Schedule 2 - Commission Structure: Detailed fee calculations, commission tiers, and payment scenarios

3. Schedule 3 - Territory Definition: Geographic or market scope of the broker's authority

4. Schedule 4 - Reporting Requirements: Templates and timing for regular reporting

5. Appendix A - Required Documentation: List of documents required for regulatory compliance

6. Appendix B - Contact Details: Key contacts and escalation procedures for both parties

7. Appendix C - Compliance Procedures: Specific compliance requirements and procedures to be followed

Authors

Alex Denne

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

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Financial Services

Insurance

Investment Banking

Commodities Trading

Business Services

Mergers and Acquisitions

Commercial Property

Securities Trading

Private Equity

Asset Management

Corporate Finance

Business Brokerage

Professional Services

Relevant Teams

Legal

Compliance

Procurement

Finance

Risk Management

Operations

Commercial

Business Development

Regulatory Affairs

Sales

Corporate Development

Contract Management

Investment

Real Estate

Relevant Roles

Legal Counsel

Compliance Officer

Business Development Manager

Procurement Manager

Contract Manager

Chief Financial Officer

Risk Manager

Operations Director

Commercial Director

Business Broker

Real Estate Agent

Financial Services Manager

Insurance Broker

Investment Manager

Managing Director

Head of Sales

Corporate Development Officer

General Counsel

Regulatory Affairs Manager

Industries
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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