Broker Seller Agreement Template for Australia

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Key Requirements PROMPT example:

Broker Seller Agreement

"I need a Broker Seller Agreement for my financial services company based in Sydney, where we'll be appointing an exclusive broker to sell our investment products across Australia, with a minimum performance requirement of $2M in sales per quarter starting March 2025."

Document background
The Broker Seller Agreement is a critical legal document used in Australian business operations when a company wishes to engage a broker to facilitate the sale of their products or services. This agreement is essential for businesses operating across various sectors in Australia, where broker intermediaries are commonly used to expand market reach and sales capabilities. The document ensures compliance with Australian federal and state regulations, including the Corporations Act 2001, Australian Consumer Law, and relevant state-specific legislation. It typically includes detailed provisions for commission structures, service levels, compliance obligations, and risk management, while addressing specific industry requirements and regulatory obligations. The agreement is particularly important in regulated industries where broker relationships must be formally documented and managed according to specific legal requirements.
Suggested Sections

1. Parties: Identifies and provides full details of the broker and seller entering into the agreement

2. Background: Provides context for the agreement and outlines the purpose of the broker-seller relationship

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Appointment and Scope of Services: Details the broker's appointment, authority, and specific services to be provided

5. Term and Termination: Specifies the duration of the agreement and circumstances for termination

6. Broker's Obligations: Lists the broker's duties, responsibilities, and service standards

7. Seller's Obligations: Outlines the seller's responsibilities and commitments

8. Fees and Commission Structure: Details the compensation arrangement, including commission rates and payment terms

9. Confidentiality: Addresses the handling and protection of confidential information

10. Compliance with Laws: Ensures adherence to relevant regulations and legal requirements

11. Liability and Indemnification: Defines the limits of liability and indemnification obligations

12. Dispute Resolution: Outlines the process for resolving disputes between parties

13. General Provisions: Includes standard legal clauses such as governing law, notices, and amendments

Optional Sections

1. Exclusivity: Defines whether the broker has exclusive rights to represent the seller

2. Marketing and Advertising: Details specific marketing obligations and advertising arrangements

3. Intellectual Property: Addresses the use of trademarks, logos, and other IP when relevant

4. Insurance Requirements: Specifies insurance obligations if required for specific industries

5. Sub-brokers: Provisions for engaging sub-brokers or agents if permitted

6. Data Protection: Additional privacy and data handling requirements for sensitive industries

7. Performance Metrics: Specific KPIs or performance standards if required

8. Territory Restrictions: Geographical limitations on broker's authority if applicable

Suggested Schedules

1. Schedule 1 - Commission Structure: Detailed breakdown of commission rates, tiers, and calculation methods

2. Schedule 2 - Services Description: Comprehensive list of services to be provided by the broker

3. Schedule 3 - Approved Marketing Materials: Templates or guidelines for marketing and promotional materials

4. Schedule 4 - Compliance Requirements: Specific regulatory requirements and compliance procedures

5. Schedule 5 - Contact Details: Key contacts and communication protocols for both parties

6. Appendix A - Required Forms: Standard forms and documentation required for transactions

7. Appendix B - Reporting Templates: Templates for regular reporting and performance tracking

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

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Financial Services

Insurance

Commodities Trading

Securities

Import/Export

Business Services

Manufacturing

Wholesale Trade

Agriculture

Mining

Energy

Relevant Teams

Legal

Sales

Compliance

Commercial

Business Development

Risk Management

Operations

Finance

Procurement

Contract Administration

Relevant Roles

Sales Director

Business Development Manager

Legal Counsel

Compliance Officer

Commercial Manager

Broker Relations Manager

Contract Administrator

Chief Commercial Officer

Sales Operations Manager

Risk Manager

Channel Manager

Partnership Manager

Managing Director

Chief Executive Officer

Industries
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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