The Termination Of Buyer Agency Agreement Form is a crucial document used when either party wishes to end their professional relationship in property transactions under English and Welsh law. It becomes necessary when the buyer no longer requires the agent's services, when the agent cannot fulfill their duties, or when both parties mutually agree to terminate their relationship. The document addresses key aspects such as termination date, outstanding fees, protection periods, and mutual releases, ensuring compliance with the Estate Agents Act 1979 and consumer protection regulations. It provides legal certainty and protection for both parties while formally concluding their professional relationship.
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1. Parties: Identification of the buyer and the agent including full legal names and addresses
2. Background: Reference to original agency agreement and reason for termination
3. Definitions: Key terms used in the termination agreement
4. Effective Date of Termination: Specific date when the agency agreement ends
5. Outstanding Fees: Statement regarding any fees due or waived
6. Mutual Release: Release of obligations between parties
1. Protection Period: Terms regarding potential future transactions and ongoing property negotiations
2. Confidentiality: Ongoing obligations regarding confidential information when sensitive information was shared during the agency
3. Data Protection: Handling of personal data post-termination in compliance with UK GDPR and Data Protection Act 2018
1. Original Agency Agreement: Copy of the agreement being terminated
2. Fee Statement: Detailed breakdown of any outstanding fees or commissions
3. Property Details: List of properties viewed or considered during the agency period
Relevant legal definitions
Clauses
Termination Date
Mutual Release
Outstanding Fees
Commission Arrangements
Protection Period
Confidentiality
Data Protection
Return of Materials
Survival of Terms
Indemnification
Further Assurance
Entire Agreement
Non-Solicitation
Notices
Waiver
Severability
Governing Law
Jurisdiction
Force Majeure
Assignment
Mutual Release
Outstanding Fees
Commission Arrangements
Protection Period
Confidentiality
Data Protection
Return of Materials
Survival of Terms
Indemnification
Further Assurance
Entire Agreement
Non-Solicitation
Notices
Waiver
Severability
Governing Law
Jurisdiction
Force Majeure
Assignment
Relevant Industries
Relevant Teams
Relevant Roles
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