Transaction Broker Agreement Template for Philippines

The Transaction Broker Agreement serves as a crucial legal framework for establishing professional brokerage relationships in the Philippines. This document is essential when engaging a licensed broker to facilitate transactions, whether in real estate, securities, or other commercial dealings. It comprehensively addresses the rights, obligations, and professional standards required under Philippine law, including compliance with the Real Estate Service Act and related regulations. The agreement is designed to protect both the broker's and client's interests by clearly defining service scope, compensation terms, confidentiality requirements, and liability limitations. It's particularly important in the Philippine context where specific regulatory requirements govern brokerage relationships and professional conduct in various sectors.

1. Parties: Identifies the Transaction Broker and the Client, including their complete legal names, addresses, and any relevant registration or license numbers

2. Background: Explains the context of the agreement, including the broker's qualifications and the client's desire to engage brokerage services

3. Definitions: Defines key terms used throughout the agreement, including 'Transaction,' 'Services,' 'Commission,' etc.

4. Scope of Services: Details the specific services the broker will provide, including transaction facilitation, documentation, and coordination responsibilities

5. Broker's Obligations: Lists the broker's duties, responsibilities, and standard of care

6. Client's Obligations: Specifies the client's responsibilities, including providing accurate information and necessary documentation

7. Commission and Payment Terms: Details the broker's compensation structure, payment timing, and any conditions for commission earning

8. Term and Termination: Specifies the duration of the agreement and conditions for termination

9. Confidentiality: Addresses the handling and protection of confidential information

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

11. Liability and Indemnification: Outlines the limitations of liability and indemnification obligations

12. Governing Law and Jurisdiction: Specifies that Philippine law governs the agreement and designates jurisdiction for dispute resolution

13. General Provisions: Includes standard clauses such as force majeure, entire agreement, and amendments