Buyer Representation Agreement Exclusive Template for Indonesia

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Key Requirements PROMPT example:

Buyer Representation Agreement Exclusive

"I need a Buyer Representation Agreement Exclusive for my company's Jakarta office expansion, where we'll appoint ABC Real Estate to exclusively search for a 1000+ square meter commercial property in Jakarta's central business district, with a 6-month term starting January 2025."

Document background
The Buyer Representation Agreement Exclusive is a crucial document in Indonesian real estate transactions that formalizes the professional relationship between a real estate agent/brokerage and a property buyer. It is particularly important in the Indonesian market where property transactions can be complex and require careful navigation of local regulations and practices. The agreement is used when a buyer wants dedicated representation and is willing to work exclusively with one agent or brokerage firm. It typically includes detailed provisions about the scope of services, territory coverage, commission structures, and duration of representation, all while ensuring compliance with Indonesian civil code and real estate regulations. This document protects both parties' interests by clearly defining their rights and obligations, establishing communication protocols, and setting out the terms for the exclusive relationship.
Suggested Sections

1. Parties: Identifies the real estate agent/brokerage firm and the buyer, including complete legal names and addresses

2. Background: Explains the context of the agreement, including the buyer's desire to engage the agent exclusively for property search services

3. Definitions: Defines key terms used throughout the agreement including 'Exclusive Period', 'Property Requirements', 'Territory', and 'Commission'

4. Appointment and Scope: Establishes the exclusive appointment of the agent and details the specific services to be provided

5. Term and Exclusivity: Specifies the duration of the agreement and confirms the exclusive nature of the representation

6. Agent's Obligations: Details the agent's duties, including property search, negotiations, due diligence assistance, and regular reporting

7. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate requirements, responding to proposals, and maintaining exclusivity

8. Commission Structure: Details the agent's compensation, payment terms, and circumstances under which commission becomes payable

9. Confidentiality: Establishes confidentiality obligations for both parties regarding shared information

10. Termination: Specifies conditions and procedures for ending the agreement, including notice requirements

11. Governing Law and Dispute Resolution: Confirms Indonesian law as governing law and sets out dispute resolution procedures

12. General Provisions: Contains standard clauses including notices, amendments, and severability

Optional Sections

1. Protection Period: Defines a period after termination during which the agent remains entitled to commission for properties shown - include when standard in the market

2. International Transactions: Additional provisions for international buyers, including compliance with foreign investment laws - include for non-Indonesian buyers

3. Digital Communications: Provisions for electronic communications and virtual property viewings - include when services will be provided remotely

4. Force Majeure: Provisions for unforeseen circumstances preventing performance - particularly relevant in uncertain times

5. Multiple Buyers: Additional provisions for multiple buyers acting together - include when buyer is more than one person

6. Language Compliance: Provisions regarding Indonesian language requirements and translations - include for international transactions

Suggested Schedules

1. Schedule 1: Property Requirements: Detailed specifications of the type of property the buyer is seeking, including location, size, budget, and special requirements

2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms

3. Schedule 3: Services Description: Comprehensive list of services to be provided by the agent

4. Schedule 4: Required Documents: List of documents required from the buyer for property transactions

5. Appendix A: Power of Attorney: Standard power of attorney form for agent to act on buyer's behalf when necessary

6. Appendix B: Compliance Checklist: Checklist of regulatory requirements for property purchases in Indonesia

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

Property Development

Real Estate Investment

Residential Property

Commercial Property

Property Management

International Real Estate

Property Consulting

Investment Management

Relevant Teams

Legal

Real Estate

Property Management

Business Development

Client Relations

Compliance

Operations

Investment

Contract Administration

International Business

Relevant Roles

Real Estate Agent

Property Consultant

Real Estate Broker

Investment Manager

Property Advisor

Real Estate Director

Business Development Manager

Client Relations Manager

Property Portfolio Manager

Real Estate Operations Manager

Compliance Officer

Legal Counsel

Contract 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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