The Referral Agreement Between Brokers serves as a crucial document in Singapore's real estate industry, establishing formal arrangements for client referrals between licensed brokers. This agreement is particularly important when brokers from different agencies collaborate to serve clients effectively. It addresses key aspects such as commission splits, professional obligations, and compliance with CEA regulations. The document becomes necessary when brokers want to formalize their referral relationship, protect their interests, and ensure compliance with Singapore's strict real estate regulations. It includes specific provisions for commission structures, confidentiality, and dispute resolution mechanisms, all while adhering to local legal requirements.
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Key Requirements PROMPT example:
Referral Agreement Between Brokers
"I need a Referral Agreement Between Brokers for my Singapore-based residential property agency to formalize a referral arrangement with a commercial real estate broker, with a 30/70 commission split and exclusive territory rights in the Central Region."
1. Parties: Identification of both broker entities, including license numbers and registered addresses
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Key terms used throughout the agreement including 'Referral', 'Commission', 'Client'
4. Scope of Agreement: Details of referral arrangement and services covered
5. Commission Structure: Terms of commission sharing and payment procedures
6. Obligations of Parties: Duties and responsibilities of each broker
7. Term and Termination: Duration of agreement and termination provisions
8. Compliance: Adherence to CEA regulations and other applicable laws
1. Non-Compete: Restrictions on competing activities in specific markets
2. Marketing and Branding: Guidelines for using each other's brands and joint marketing activities
3. International Transactions: Special provisions for cross-border deals and international properties
4. Training Requirements: Specific training or certification needs for specialized property types
1. Commission Schedule: Detailed breakdown of commission rates and calculations
2. Territory Schedule: Definition of geographical areas covered by the agreement
3. Service Level Agreement: Specific performance metrics and standards
4. Compliance Checklist: Required documentation and procedures for referrals
5. Contact Details: Key personnel and emergency contacts for both parties
Authors
Relevant legal definitions
Agreement
Applicable Laws
Broker
CEA
Client
Commission
Confidential Information
Effective Date
Estate Agency Work
Force Majeure
Intellectual Property Rights
License
Parties
Property
Receiving Broker
Referring Broker
Referral
Referral Commission
Referral Fee
Referral Period
Related Services
Singapore Dollar
Term
Territory
Transaction
Applicable Laws
Broker
CEA
Client
Commission
Confidential Information
Effective Date
Estate Agency Work
Force Majeure
Intellectual Property Rights
License
Parties
Property
Receiving Broker
Referring Broker
Referral
Referral Commission
Referral Fee
Referral Period
Related Services
Singapore Dollar
Term
Territory
Transaction
Clauses
Appointment and Scope
Referral Process
Commission Structure
Payment Terms
Representations and Warranties
Confidentiality
Non-Solicitation
Non-Competition
Intellectual Property
Data Protection
Regulatory Compliance
Professional Standards
Record Keeping
Client Communication
Service Level Standards
Term and Duration
Termination
Force Majeure
Dispute Resolution
Governing Law
Assignment
Entire Agreement
Severability
Notices
Amendments
Indemnification
Insurance
Relationship of Parties
Referral Process
Commission Structure
Payment Terms
Representations and Warranties
Confidentiality
Non-Solicitation
Non-Competition
Intellectual Property
Data Protection
Regulatory Compliance
Professional Standards
Record Keeping
Client Communication
Service Level Standards
Term and Duration
Termination
Force Majeure
Dispute Resolution
Governing Law
Assignment
Entire Agreement
Severability
Notices
Amendments
Indemnification
Insurance
Relationship of Parties
Relevant Industries
Relevant Teams
Relevant Roles
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