Lease Brokerage Agreement Between The Owner And Broker Template for Pakistan

The Lease Brokerage Agreement Between The Owner And Broker is a crucial document used in Pakistani real estate transactions when a property owner wishes to engage a professional broker to market and lease their property. This agreement type is essential for establishing clear terms of engagement, defining the broker's authority, and protecting both parties' interests under Pakistani law. It becomes necessary when property owners seek professional assistance in finding suitable tenants and need to formalize the commission structure and service expectations. The document typically incorporates requirements from federal legislation such as the Contract Act 1872 and provincial real estate regulations, making it suitable for both commercial and residential property transactions. It's particularly important in major Pakistani cities where professional real estate services are common and regulatory compliance is strictly enforced.

1. Parties: Identification of the property owner and the broker, including full legal names, addresses, and registration details

2. Background: Context of the agreement, including the owner's intention to lease the property and appointment of the broker

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Lease', 'Commission', 'Prospective Tenant'

4. Appointment and Authority: Formal appointment of the broker and scope of authority granted by the owner

5. Broker's Services: Detailed description of services to be provided by the broker, including marketing, showing property, tenant screening

6. Property Details: Description of the property subject to the brokerage agreement

7. Commission Structure: Terms of broker compensation, including rate, calculation method, and payment timing

8. Term and Termination: Duration of the agreement and conditions for termination by either party

9. Owner's Obligations: Responsibilities of the property owner, including providing information and access to the property

10. Representations and Warranties: Statements of fact and promises made by both parties

11. Confidentiality: Obligations regarding confidential information shared during the engagement

12. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and jurisdiction for disputes

13. Notices: Process and requirements for formal communications between parties

14. Execution: Signature blocks and execution requirements