Exclusive Agency Buyer Agency Agreement Template for Indonesia

This document is essential when a property buyer in Indonesia wishes to engage a real estate agent exclusively to represent their interests in property transactions. The Exclusive Buyer Agency Agreement is specifically designed to comply with Indonesian legal requirements and real estate practices, providing a comprehensive framework for the agency relationship. It includes detailed provisions about the agent's authority, services to be provided, compensation structure, and the exclusive nature of the representation. This agreement is particularly important in the Indonesian market where property transactions can be complex and require local expertise. It protects both the buyer's interests and the agent's right to compensation while ensuring compliance with local regulations such as the Indonesian Civil Code and Ministry of Trade requirements for real estate services.

1. Parties: Identifies the buyer (principal) and the real estate agent/agency (agent), including their complete legal names, addresses, and relevant registration numbers

2. Background: Sets out the context of the agreement, including the buyer's intention to purchase property and the agent's qualifications and licenses

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

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 agency relationship

6. Agent's Obligations: Details the agent's duties, including property search, negotiation, due diligence, and reporting requirements

7. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate requirements, cooperating with the agent, and maintaining exclusivity

8. Fees and Expenses: Specifies the agent's compensation structure, payment terms, and reimbursable expenses

9. Confidentiality: Addresses the handling of confidential information shared during the agency relationship

10. Representations and Warranties: Contains statements of fact and guarantees from both parties

11. Termination: Sets out the circumstances under which the agreement can be terminated and the consequences of termination

12. Governing Law and Dispute Resolution: Specifies Indonesian law as governing law and outlines dispute resolution procedures