Broker And Agent Agreement for Singapore

Broker And Agent Agreement Template for Singapore

A comprehensive legal agreement governed by Singapore law that establishes the terms and conditions between a principal and a broker or agent. The document outlines the scope of services, commission structures, responsibilities, and obligations of both parties while ensuring compliance with Singapore's Estate Agents Act, relevant financial regulations, and other applicable laws. It includes provisions for licensing requirements, professional conduct, and dispute resolution mechanisms specific to the Singapore jurisdiction.

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What is a Broker And Agent Agreement?

The Broker And Agent Agreement is a crucial document used to formalize business relationships in Singapore between principals and their appointed representatives. This agreement is particularly important in regulated industries such as real estate, financial services, and insurance, where specific licensing and compliance requirements apply under Singapore law. The document typically includes detailed provisions about scope of authority, commission structures, performance expectations, and compliance obligations. It's designed to protect both parties' interests while ensuring adherence to Singapore's regulatory framework, including the Estate Agents Act and relevant industry-specific regulations.

What sections should be included in a Broker And Agent Agreement?

1. Parties: Identification and details of the principal and broker/agent

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope: Terms of appointment and scope of services

5. Duties and Responsibilities: Specific obligations of both parties

6. Commission Structure: Payment terms and commission calculations

7. Term and Termination: Duration of agreement and termination provisions

8. Confidentiality: Protection of confidential information

9. Governing Law: Applicable law and jurisdiction

What sections are optional to include in a Broker And Agent Agreement?

1. Non-Competition: Restrictions on competitive activities when protecting market position is crucial

2. Insurance Requirements: Insurance obligations of the broker/agent when specific coverage is required

3. Territory Rights: Geographic limitations of authority when territory exclusivity is granted

4. Performance Metrics: Specific performance targets and evaluations when performance-based conditions apply

What schedules should be included in a Broker And Agent Agreement?

1. Commission Schedule: Detailed breakdown of commission structures and calculations

2. Service Level Agreement: Specific performance standards and metrics

3. Territory Map: Geographic area covered by the agreement

4. Required Licenses: List of mandatory licenses and certifications

5. Standard Operating Procedures: Detailed procedures for common transactions

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

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Free to use

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Financial Services
Insurance
Import/Export
Commodities

Relevant Teams

Legal
Sales
Compliance
Finance
Operations
Business Development

Relevant Roles

Chief Executive Officer
Business Development Manager
Compliance Officer
Legal Counsel
Sales Director
Operations Manager

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Tender Agency Agreement

A Singapore-law governed agreement appointing an agent to manage tender processes, including preparation, evaluation, and administration of tenders.

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What is a Broker And Agent Agreement?

What sections should be included in a Broker And Agent Agreement?

What sections are optional to include in a Broker And Agent Agreement?

What schedules should be included in a Broker And Agent Agreement?

Authors

Alex Denne

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