Commercial Broker Agreement Generator for Australia

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Key Requirements PROMPT example:

Commercial Broker Agreement

"I need a Commercial Broker Agreement for appointing an exclusive broker to sell industrial equipment in Western Australia, with a 5% commission structure and minimum sales targets of $2M per quarter starting March 2025."

Document background
The Commercial Broker Agreement is essential for businesses operating in Australia that engage brokers or intermediaries to facilitate transactions, sales, or business arrangements. This document is particularly crucial in regulated industries where intermediary services require specific compliance measures and clear operational frameworks. The agreement addresses key aspects including broker authority, commission structures, compliance with Australian regulatory requirements (including ASIC regulations and the Corporations Act 2001), and risk management provisions. It's designed to protect both the principal company and the broker by clearly defining roles, responsibilities, and compensation structures while ensuring alignment with Australian legal and regulatory requirements. The Commercial Broker Agreement is commonly used when engaging independent brokers or brokerage firms for ongoing commercial intermediary services, requiring careful consideration of industry-specific regulations and market practices.
Suggested Sections

1. Parties: Identifies and provides full details of the broker and the principal company

2. Background: Explains the context of the agreement and the parties' intentions

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Scope: Details the broker's appointment, territory, and scope of services

5. Broker's Authority: Specifies the extent and limitations of the broker's authority to act on behalf of the principal

6. Compliance and Licensing: Outlines regulatory compliance requirements and necessary licensing obligations

7. Commission Structure: Details the commission rates, calculation methods, and payment terms

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

9. Obligations of the Principal: Specifies the principal's responsibilities and support commitments

10. Confidentiality: Addresses handling of confidential information and trade secrets

11. Intellectual Property: Covers ownership and usage rights of intellectual property

12. Liability and Indemnity: Details liability limitations and indemnification provisions

13. Insurance: Specifies required insurance coverage and minimum limits

14. Term and Termination: States the agreement duration and termination provisions

15. Dispute Resolution: Outlines procedures for handling disputes

16. General Provisions: Includes standard boilerplate clauses like notices, amendments, and governing law

Optional Sections

1. Non-Competition: Restrictions on competitive activities - include when exclusivity is required

2. Performance Targets: Specific performance metrics and consequences - include for performance-based arrangements

3. Marketing and Promotion: Marketing obligations and standards - include when broker has promotional responsibilities

4. Training Requirements: Training and certification requirements - include for specialized products/services

5. Sub-broker Arrangements: Rules for engaging sub-brokers - include when sub-broking is permitted

6. Technology and Systems: Technology requirements and systems access - include when specific platforms are used

7. Data Protection: Detailed data handling requirements - include when dealing with sensitive data

8. Force Majeure: Provisions for unforeseen circumstances - include for long-term agreements

Suggested Schedules

1. Schedule 1 - Commission Rates: Detailed breakdown of commission structures and calculations

2. Schedule 2 - Territory: Detailed description of geographical territory or market segment

3. Schedule 3 - Approved Products/Services: List of products or services the broker is authorized to sell

4. Schedule 4 - Service Level Requirements: Detailed service standards and performance metrics

5. Schedule 5 - Reporting Requirements: Templates and timing for required reports

6. Schedule 6 - Compliance Procedures: Detailed compliance processes and checklists

7. Appendix A - Required Forms: Standard forms and documentation templates

8. Appendix B - Insurance Requirements: Detailed insurance specifications and certificates

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

Financial Services

Real Estate

Insurance

Commercial Property

Investment Banking

Commodities Trading

Import/Export

Business Services

Manufacturing

Wholesale Distribution

Professional Services

Technology

Relevant Teams

Legal

Compliance

Commercial

Sales

Business Development

Operations

Finance

Risk Management

Procurement

Partner Relations

Contract Administration

Relevant Roles

Chief Executive Officer

Commercial Director

Legal Counsel

Compliance Officer

Business Development Manager

Sales Director

Operations Manager

Contract Manager

Risk Manager

Commercial Broker

Business Broker

Channel Manager

Partnership Manager

Account Executive

Financial Controller

Procurement Manager

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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