Commission Split Agreement Between Agents for Singapore

Commission Split Agreement Between Agents Template for Singapore

A Commission Split Agreement Between Agents is a legally binding document governed by Singapore law that establishes the terms and conditions for sharing commission income between two or more licensed real estate agents. The agreement complies with the Estate Agents Act 2010 and CEA guidelines, detailing the commission split ratios, payment terms, roles and responsibilities, and dispute resolution mechanisms. It provides a clear framework for collaboration while ensuring compliance with Singapore's regulatory requirements.

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What is a Commission Split Agreement Between Agents?

The Commission Split Agreement Between Agents is essential when licensed real estate agents in Singapore wish to collaborate on property transactions and share resulting commissions. This document becomes necessary when agents from the same or different agencies work together on property deals, requiring clear documentation of their financial arrangements. The agreement ensures compliance with Singapore's Estate Agents Act 2010 and CEA guidelines while protecting all parties' interests through detailed specification of commission splits, responsibilities, and operational procedures. It's particularly valuable in co-broking situations and team collaborations where multiple agents contribute to successful property transactions.

What sections should be included in a Commission Split Agreement Between Agents?

1. Parties: Identification of the agents entering into the agreement

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

3. Definitions: Key terms used throughout the agreement

4. Commission Split Structure: Detailed breakdown of how commissions will be split between agents

5. Roles and Responsibilities: Specific duties and obligations of each agent in the arrangement

6. Payment Terms: Timeline, method, and conditions for commission payments

7. Term and Termination: Duration of agreement and conditions for termination

What sections are optional to include in a Commission Split Agreement Between Agents?

1. Non-Compete Clause: Restrictions on competitive activities between agents

2. Marketing Arrangements: Terms governing shared marketing efforts and cost-sharing

3. Lead Generation: Procedures for sharing and handling client leads between agents

What schedules should be included in a Commission Split Agreement Between Agents?

1. Commission Calculator: Detailed formula and examples for calculating commission splits

2. Territory Map: Defined geographical areas if the agreement is territory-based

3. Property Types Schedule: Comprehensive list of property types covered under the agreement

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

Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Agency Agreement

Cost

Free to use
Clauses
Industries

Estate Agents Act 2010: Primary legislation governing real estate agencies and agents in Singapore. Establishes licensing requirements and permissible fee structures for commission arrangements.

Estate Agents (Estate Agency Work) Regulations 2010: Subsidiary legislation that provides detailed regulations on agent conduct, commission arrangements, and professional requirements.

CEA Guidelines: Professional guidelines issued by Council for Estate Agencies covering service standards, code of ethics, co-broking arrangements, and commission guidelines.

Contract Law (Chapter 53): Foundational legislation governing contract formation, enforceability, and terms and conditions in Singapore.

Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data, including privacy obligations relevant to agent agreements.

Competition Act: Legislation ensuring fair market practices and preventing anti-competitive behavior in business arrangements.

Commission Structure Compliance: Requirements for ensuring commission split arrangements comply with CEA guidelines and industry regulations.

Roles and Responsibilities: Clear definition of each agent's duties, obligations, and scope of work in the commission split arrangement.

Payment Terms: Specific conditions for commission calculations, payment timing, and distribution methods between agents.

Dispute Resolution: Mechanisms and procedures for resolving disagreements between agents regarding commission splits.

Confidentiality Provisions: Terms governing the protection of sensitive information shared between agents during their collaboration.

Term and Termination: Conditions specifying the duration of the agreement and circumstances under which it can be terminated.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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