The Commission Split Agreement Between Agents is essential for property practitioners in South Africa who wish to formalize their commission-sharing arrangements. This document is typically used when agents collaborate on property transactions, mentor junior agents, or work in teams. It ensures compliance with the Property Practitioners Act 2022 and other relevant South African legislation while providing a clear framework for financial arrangements. The agreement covers crucial aspects such as commission percentages, payment terms, roles and responsibilities, and dispute resolution mechanisms. It's particularly important in situations where agents from the same or different agencies work together on property transactions, requiring clear documentation of their financial arrangements to prevent future disputes and ensure regulatory compliance.

1. Parties: Identification of the agents entering into the agreement, including their registration numbers as property practitioners

2. Background: Context of the agreement, including the purpose of the collaboration and general business relationship

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpretation

4. Duration and Commencement: Term of the agreement, including start date and renewal provisions

5. Commission Split Structure: Core terms defining how commissions will be split between the agents

6. Payment Terms: Timing and method of commission payments, including invoicing requirements

7. Roles and Responsibilities: Detailed outline of each agent's duties and obligations in the collaboration

8. Compliance Requirements: Obligations regarding Property Practitioners Act and other relevant legislation

9. Confidentiality: Protection of confidential information and client data

10. Termination: Circumstances under which the agreement can be terminated and the process

11. Post-Termination Obligations: Obligations that survive termination, including pending transactions

12. Dispute Resolution: Process for resolving disputes between the agents

13. General Provisions: Standard contractual provisions including notices, amendments, and governing law