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Exclusive Brokerage Contract
"I need an Exclusive Brokerage Contract under Nigerian law for my portfolio of five commercial properties in Lagos, with a commission rate of 5% and an exclusivity period running from January 1, 2025, to December 31, 2025; the agreement should include digital marketing rights and sub-agent provisions."
1. Parties: Identification of the principal and the broker, including full legal names, addresses, and registration details of the broker
2. Background: Context of the agreement, including the principal's intention to engage the broker and the broker's qualifications
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Exclusive Period', 'Commission', 'Successful Transaction'
4. Appointment and Scope: Explicit statement of exclusive appointment and detailed scope of brokerage services
5. Term and Exclusivity: Duration of the agreement and specific terms of exclusivity
6. Broker's Rights and Obligations: Detailed listing of broker's responsibilities, authority limits, and exclusive rights
7. Principal's Obligations: Principal's duties, including provision of information and cooperation requirements
8. Commission Structure: Detailed breakdown of commission rates, payment terms, and conditions for commission earning
9. Marketing and Promotion: Agreed marketing strategies, advertising responsibilities, and budget allocation
10. Confidentiality: Obligations regarding confidential information and trade secrets
11. Termination: Grounds for termination, notice requirements, and post-termination obligations
12. Dispute Resolution: Process for handling disputes, including jurisdiction and applicable law
13. General Provisions: Standard clauses including notices, amendments, assignment, and entire agreement
1. Protection Period: Used when the principal needs to specify a period after termination during which the broker remains entitled to commission for specific prospects
2. Sub-Agents: Include when the broker may need to appoint sub-agents, specifying terms and conditions
3. International Transactions: Required for brokers dealing with international clients or properties, addressing specific requirements and compliance
4. Digital Marketing Rights: Include when specific digital marketing strategies and online presence need to be detailed
5. Property Management Services: Add when the broker will provide additional property management services
6. Performance Targets: Include when specific performance metrics or targets are part of the agreement
7. Insurance Requirements: Add when specific insurance coverage needs to be maintained by either party
1. Schedule A - Property Details: Detailed description of properties covered under the agreement
2. Schedule B - Commission Structure: Detailed breakdown of commission rates for different types of transactions
3. Schedule C - Marketing Plan: Specific marketing strategies, timelines, and budgets
4. Schedule D - Broker's Credentials: Copies of broker's licenses, certifications, and professional memberships
5. Schedule E - Approved Marketing Materials: Templates and formats for marketing materials
6. Appendix 1 - Service Level Agreement: Detailed performance standards and service levels
7. Appendix 2 - Compliance Checklist: List of regulatory requirements and compliance measures
Authors
Broker
Principal
Property
Exclusive Period
Commission
Successful Transaction
Marketing Activities
Confidential Information
Effective Date
Expiry Date
Territory
Asking Price
Transaction Value
Prospective Buyer
Protection Period
Sub-agent
Marketing Materials
Professional Services
Due Diligence
Force Majeure
Business Day
Completion Date
Licensed Activities
Market Value
Nigerian Law
Professional Body
Registration Requirements
Service Level Standards
Termination Date
Valid Offer
Working Hours
Intellectual Property Rights
Marketing Plan
Property Documentation
Regulatory Requirements
Sale Agreement
Transaction Documents
Exclusivity
Term
Services
Commission
Payment Terms
Marketing Rights
Property Access
Confidentiality
Non-Circumvention
Representations and Warranties
Obligations
Performance Standards
Reporting
Insurance
Indemnification
Liability
Force Majeure
Termination
Protection Period
Assignment
Sub-contracting
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendment
Counterparts
Compliance
Data Protection
Anti-Money Laundering
Professional Standards
Marketing Standards
Property Information
Success Fee
Competition
Regulatory Compliance
Real Estate
Commercial Property
Residential Property
Industrial Property
Agricultural Land
Retail Property
Office Space
Hospitality
Mixed-use Development
Land Development
Property Investment
Legal
Real Estate
Business Development
Compliance
Operations
Sales
Marketing
Asset Management
Investment
Property Management
Contract Administration
Real Estate Broker
Property Manager
Business Development Manager
Legal Counsel
Compliance Officer
Real Estate Agent
Property Developer
Asset Manager
Investment Manager
Sales Director
Commercial Director
Contract Manager
Real Estate Portfolio Manager
Operations Manager
Marketing Manager
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