The Commission Agreement Between Brokers is essential for formalizing partnerships between brokers operating in Indian markets. This document is typically used when brokers wish to collaborate by sharing clients, leads, or services while maintaining compliance with Indian regulations. The agreement becomes necessary when brokers want to establish clear terms for commission sharing, define territories, and outline service expectations. It addresses crucial aspects such as commission calculations, payment schedules, regulatory compliance, and risk allocation. The document is particularly relevant in the Indian context where specific regulations govern broker relationships, including SEBI regulations for securities brokers and RERA regulations for real estate brokers. This agreement helps prevent disputes by clearly documenting the terms of collaboration and ensuring all parties understand their rights, obligations, and compensation structures.
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1. Parties: Identification of the brokers entering into the agreement, including registration numbers and regulatory details
2. Background: Context of the agreement and brief description of the brokers' businesses
3. Definitions: Definitions of key terms used throughout the agreement
4. Scope of Agreement: Details of the collaboration between brokers and permitted activities
5. Appointment and Territory: Terms of appointment and geographical area of operation
6. Commission Structure: Detailed breakdown of commission rates and calculation methods
7. Payment Terms: Timeline and method of commission payments, including invoicing requirements
8. Regulatory Compliance: Obligations to comply with relevant laws and regulations
9. Representations and Warranties: Standard warranties about capacity, authority, and regulatory compliance
10. Confidentiality: Protection of confidential information shared between parties
11. Term and Termination: Duration of agreement and circumstances for termination
12. Dispute Resolution: Process for resolving disputes between the parties
13. Governing Law: Specification of Indian law as governing law and jurisdiction
1. Non-Compete: Restrictions on competing activities, used when brokers want to prevent direct competition
2. White Labeling: Terms for using each other's branding, relevant for co-branded services
3. Technology Integration: Terms for technical integration between brokers' systems, if applicable
4. Training and Support: Obligations regarding training and operational support, if provided
5. Insurance Requirements: Specific insurance coverage requirements, if needed
6. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in volatile markets
7. Data Protection: Additional provisions for handling personal data, if significant data sharing is involved
1. Commission Rate Card: Detailed breakdown of commission rates for different types of transactions
2. Service Level Agreement: Performance standards and response times for various services
3. Compliance Requirements: Detailed regulatory compliance checklist and requirements
4. Operating Procedures: Step-by-step procedures for collaboration and commission calculations
5. Contact Details: Key personnel and escalation matrix for both parties
6. Required Documentation: List of documents required for regulatory compliance and operations
7. Territory Map: Detailed description or map of geographical territory covered by the agreement
Relevant legal definitions
Agreement
Applicable Laws
Authorised Representative
Business Day
Broker A
Broker B
Brokerage Services
Client
Commission
Commission Rate
Confidential Information
Cross-Referral
Effective Date
Force Majeure Event
Intellectual Property Rights
Lead
Material Breach
Net Commission
Operating Procedures
Payment Period
Permitted Purpose
Qualified Transaction
Regulatory Approvals
Relevant Authority
SEBI
Services
Sub-broker
Term
Territory
Transaction
Working Hours
Client Documentation
Commission Statement
Dispute
Execution Date
Insurance Coverage
KYC Requirements
Market Rules
Professional Standards
Referral Fee
Regulatory Requirements
Service Level Standards
Trading Platform
Gross Revenue
Applicable Laws
Authorised Representative
Business Day
Broker A
Broker B
Brokerage Services
Client
Commission
Commission Rate
Confidential Information
Cross-Referral
Effective Date
Force Majeure Event
Intellectual Property Rights
Lead
Material Breach
Net Commission
Operating Procedures
Payment Period
Permitted Purpose
Qualified Transaction
Regulatory Approvals
Relevant Authority
SEBI
Services
Sub-broker
Term
Territory
Transaction
Working Hours
Client Documentation
Commission Statement
Dispute
Execution Date
Insurance Coverage
KYC Requirements
Market Rules
Professional Standards
Referral Fee
Regulatory Requirements
Service Level Standards
Trading Platform
Gross Revenue
Clauses
Interpretation
Appointment
Term
Territory
Exclusivity
Commission
Payment Terms
Regulatory Compliance
Representations and Warranties
Obligations
Client Relationships
Referral Process
Commission Calculations
Record Keeping
Audit Rights
Confidentiality
Data Protection
Intellectual Property
Non-Compete
Non-Solicitation
Indemnification
Limitation of Liability
Force Majeure
Insurance
Termination
Consequences of Termination
Dispute Resolution
Governing Law
Assignment
Notices
Entire Agreement
Severability
Amendments
Counterparts
Relationship of Parties
Time of Essence
Survival
Further Assurance
Appointment
Term
Territory
Exclusivity
Commission
Payment Terms
Regulatory Compliance
Representations and Warranties
Obligations
Client Relationships
Referral Process
Commission Calculations
Record Keeping
Audit Rights
Confidentiality
Data Protection
Intellectual Property
Non-Compete
Non-Solicitation
Indemnification
Limitation of Liability
Force Majeure
Insurance
Termination
Consequences of Termination
Dispute Resolution
Governing Law
Assignment
Notices
Entire Agreement
Severability
Amendments
Counterparts
Relationship of Parties
Time of Essence
Survival
Further Assurance
Relevant Industries
Financial Services
Securities Trading
Real Estate
Insurance
Commodities Trading
Investment Banking
Wealth Management
Corporate Finance
Asset Management
Property Development
Commercial Real Estate
Retail Banking
Relevant Teams
Legal
Compliance
Operations
Finance
Business Development
Risk Management
Partner Relations
Commission Processing
Account Management
Business Strategy
Regional Operations
Relevant Roles
Broker
Managing Director
Compliance Officer
Legal Counsel
Business Development Manager
Partnership Manager
Chief Executive Officer
Operations Manager
Finance Director
Risk Manager
Relationship Manager
Commission Manager
Chief Operating Officer
Regional Manager
Branch Manager
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