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Broker Contract Commission
"Need a Broker Contract Commission agreement for our Singapore-based real estate agency, covering both residential and commercial property transactions, with a tiered commission structure starting at 2% for properties under SGD 1 million and increasing to 3% for luxury properties over SGD 5 million, to be implemented from January 2025."
1. Parties: Identification of the principal and broker, including registration details and addresses
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of broker appointment and authorized activities
5. Commission Structure: Detailed breakdown of commission rates and calculation methods
6. Payment Terms: Timeline and method of commission payments
7. Obligations and Duties: Broker's responsibilities and compliance requirements
8. Term and Termination: Duration of agreement and termination provisions
9. Confidentiality: Protection of confidential information
1. Non-Competition: Restrictions on competing activities when broker has access to sensitive client information or market strategies
2. Training Requirements: Mandatory training and certification requirements when specific qualifications or ongoing training is required
3. Performance Targets: Specific goals and metrics when commission structure is tied to performance benchmarks
4. Professional Indemnity: Insurance requirements and liability provisions when dealing with high-value transactions or regulated activities
1. Commission Rate Schedule: Detailed breakdown of commission rates for different products or services
2. Territory Schedule: Geographic areas where broker is authorized to operate
3. Product Schedule: List of authorized products or services
4. Compliance Procedures: Detailed compliance requirements and procedures
5. Performance Metrics: Detailed KPIs and measurement criteria
Authors
Applicable Laws
Broker
Broker Services
Business Day
Commission
Confidential Information
Effective Date
Force Majeure Event
Gross Commission
MAS
Net Commission
Performance Metrics
Principal
Products
Regulatory Requirements
Services
SFA
Singapore Dollar
Term
Territory
Transaction
Working Hours
Client
Customer
Deal
Licensed Activities
Marketing Materials
Payment Date
Performance Period
Qualifying Transaction
Records
Reporting Period
Target
Termination Date
Trade Secret
Authority and Scope
Commission Structure
Payment Terms
Broker Obligations
Principal Obligations
Representations and Warranties
Compliance Requirements
Record Keeping
Performance Standards
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Data Protection
Term and Duration
Termination
Force Majeure
Indemnification
Insurance
Assignment
Dispute Resolution
Governing Law
Entire Agreement
Severability
Notices
Amendment
Third Party Rights
Anti-Bribery and Corruption
Money Laundering Prevention
Regulatory Compliance
Performance Reporting
Training Requirements
Territory Restrictions
Product Limitations
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