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Agency Collaboration


Agency 1

VERZUN Real Estate Broker, trade license Nr. 618111, broker office Nr. 1990, with a business address of Level 41, Emirates Towers, Dubai, United Arab Emirates

Agency 2


Both parties, in the representation in which they act, acknowledge mutual legal capacity in order to enter into this agreement. The parties gathered in this agreement act out of their own free will and whereby both parties have decided to start a commercial collaboration which they rule according to the following:


Whereas

Company 1 is in the business of brokering prime real estate and associated services worldwide; and

Company 2 is in the business of brokering prime real estate in _____________________.


Introduction of business

Both parties agree that, in respect of those of clients / properties introduced, they will provide such information relating to the financial and personal circumstances or documentation as may be reasonably required. Both parties will ensure that their clients/owners are aware of this agreement and have consented to being referred or having their property introduced to the other party.


Client and property registration

Each client / property introduced under this agreement will be recorded by both parties and each prospective client will sign an agreement in respect of properties to which they are introduced to indemnify us in the event that they attempt to acquire said property directly or through another agent. This agreement makes provision for 3rd party involvement.  A 3rd party company or individual may introduce their clients or property with the aim of completing a sale transaction.  The 3rd party, on the agreement of both the First and Second Parties will become a Third party in the collaboration. Neither party will enter into separate arrangements that present a conflict of interest to this collaboration. To maximise benefit for both themselves and their clients, both parties agree to keep each other informed of new arrangements, collaborations and any other relevant information that could affect the collaboration. We/You may introduce clients to the You/Us for reasons other than real estate collaboration, including for services offered and provided by other Partnered Businesses. In such cases and where business arises for the other firm or company directly as a result of the initial introduction, We/You will use its reasonable endeavours to obtain for You/Us, remuneration from the other firm of like character to that provided for in this Agreement. 


Terms of commission payment

For any agreed deal by a client introduced by Agency 1 to Agency 2 -  Agency 2 will pay Agency 1 a share of 50% from the commission received. For any agreed deal by a client from the partner, the agency will pay the partner a share of 50% of the commission received Agency 1 and Agency 2 hereby agree to a 50%-50% share of fees for the successful acquisition of an investment property for the Client. A completion statement will be sent per property acquisition stating the fees payable per transaction and other parties involved who may also be due fees on a given acquisition. Payment of the fees shall be made within 28 days of the formal completion of the acquisition of the property, the “Completion Date”, and subject to receipt of cleared funds from the client for their fees payable, along with any other fees due and payable on the acquisition, specifically any financing arrangement or Vendor fees that may be due to the Introducer.


Authority

The parties acknowledge that they have no authority to act on the other party's behalf in any capacity beyond what is envisaged by this agreement. Neither party shall hold itself out as being associated with the other party other than is envisaged by this agreement, and for the avoidance of doubt this agreement is not an agency agreement.


Confidentiality

Neither party will, either during or at any time after the termination of this agreement, divulge to any person, firm, company or other entity any confidential information (not being already within the public domain or subsequently coming into the public domain otherwise than through the breach of this clause or as a result of a legal obligation) concerning the business or affairs of the other.


Conduct

Both parties agree to accept and comply with the code of conduct or rules of the professional body that governs their business activity, where applicable. Comply and work within the laws of all relevant jurisdictions, in particular in relation to Data Protection and ensuring client confidentiality.


Termination

Either party may terminate this agreement on Thirty (30) days written notice to the other party. This agreement shall terminate forthwith: if either party is in material breach of its terms unless such a breach, if capable of remedy, is remedied with 30 days of either party having received written notice of such breach from the other. If, except for the purposes of a solvent amalgamation or reconstruction, either party becomes insolvent or has an administrative or other receiver, manager, trustee, liquidator, administrator or other similar official appointed in relation to its affairs or assets in whole or part or otherwise becomes unable to pay its debts or proposes any composition or arrangement with its creditors for the payments of its debts or anything analogous thereto in any jurisdiction.

 


Entire Agreement and Variation

This agreement constitutes the entire understanding between the parties with regard to its subject matter. It may not be amended, varied, waived, explained, added to, extended or changed in any way except in writing either by hard copy or electronic mail, signed by a person authorised to execute such modification or amendment on behalf of either party.

Law and Jurisdiction

Both parties agree that the law, which will regulate their contractual liabilities, will be _____________________________law.


Name and Signature
Name and Signature


VERZUN Real Estate Broker |  Boutique agency for international luxury real estate
Level 41, Emirates Towers, Dubai, UAE | +971 4 319 7520 | contact@verzun.com | www.verzun.com