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Co Broker Agreement
"I need a Co-Broker Agreement for my Dubai-based real estate agency to collaborate with an Abu Dhabi broker, focusing on luxury residential properties with a 60-40 commission split and exclusive territory rights."
1. Parties: Identification of the co-brokers entering into the agreement, including their license numbers and registration details as per UAE regulations
2. Background: Context of the agreement and confirmation of brokers' credentials and authority to practice in the UAE
3. Definitions: Key terms used throughout the agreement, including specific real estate and local market terminology
4. Scope of Agreement: Definition of the collaboration terms and geographical areas covered
5. Commission Structure: Details of commission splits and payment terms between co-brokers
6. Roles and Responsibilities: Specific duties and obligations of each broker in the co-broking relationship
7. Confidentiality: Provisions regarding handling of confidential information and client data
8. Term and Termination: Duration of the agreement and conditions for termination
9. Professional Standards: Compliance requirements with RERA and other applicable regulations
10. Dispute Resolution: Process for resolving disagreements between parties
11. Governing Law: Specification of UAE law as governing law and relevant jurisdiction
1. Exclusivity: Terms of exclusive cooperation for specific properties or clients, used when brokers agree to work exclusively on certain deals
2. International Transactions: Special provisions for dealing with international clients or properties, included when brokers handle cross-border transactions
3. Marketing Arrangements: Guidelines for joint marketing efforts and cost sharing, included when brokers plan collaborative marketing
4. Sub-Brokerage: Terms for engaging sub-brokers, used when allowing delegation to other licensed brokers
5. Insurance Requirements: Specific insurance obligations beyond standard requirements, included for high-value or specialized properties
6. Non-Compete Provisions: Restrictions on competitive activities, included when parties agree to territorial or client restrictions
7. Data Protection: Additional provisions for handling personal data, particularly relevant when dealing with international clients or digital platforms
1. Schedule 1 - Commission Structure: Detailed breakdown of commission splits for different types of transactions
2. Schedule 2 - Territory Map: Geographical areas covered by the co-broking arrangement
3. Schedule 3 - Required Licenses: Copies of current broker licenses and RERA registrations
4. Schedule 4 - Standard Operating Procedures: Detailed procedures for handling joint listings and clients
5. Appendix A - Marketing Guidelines: Specific rules and standards for joint marketing activities
6. Appendix B - Documentation Requirements: List of required documents for various transaction types
7. Appendix C - Contact Information: Key contacts and escalation matrix for both parties
Authors
Applicable Laws
Broker License
Business Day
Client
Co-Broker
Commission
Commission Split
Confidential Information
Effective Date
Exclusive Listing
Force Majeure
Intellectual Property Rights
Lead Broker
Licensed Activities
Listing
Marketing Materials
MLS
Non-Exclusive Listing
Parties
Property
RERA
RERA Regulations
Representatives
Services
Shared Listing
Term
Territory
Transaction
UAE
Working Hours
Recitals
Definitions
Scope of Collaboration
Term and Duration
Commission Structure
Payment Terms
Roles and Responsibilities
Territory Rights
Exclusivity
Professional Standards
Licensing and Compliance
Confidentiality
Non-Competition
Non-Solicitation
Marketing and Advertising
Client Relations
Record Keeping
Intellectual Property
Data Protection
Representations and Warranties
Indemnification
Liability
Insurance
Force Majeure
Assignment
Termination
Dispute Resolution
Governing Law
Notices
Entire Agreement
Severability
Amendment
Waiver
Counterparts
Real Estate
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality Property
Mixed-Use Development
Property Management
Real Estate Investment
Legal
Real Estate
Sales
Business Development
Compliance
Operations
Property Management
Partner Relations
Contract Administration
Real Estate Broker
Property Consultant
Real Estate Agent
Sales Director
Business Development Manager
Managing Director
Real Estate Manager
Compliance Officer
Legal Counsel
Operations Manager
Branch Manager
Senior Property Advisor
Real Estate Partnership Manager
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