Broker Agent Commission Agreement Template for Singapore

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Key Requirements PROMPT example:

Broker Agent Commission Agreement

"Need a Broker Agent Commission Agreement for our Singapore real estate company, appointing an exclusive agent for luxury properties in the Central Region with a tiered commission structure starting from March 2025."

Document background
The Broker Agent Commission Agreement is essential for businesses operating in Singapore that engage brokers or agents on a commission basis. This document defines the commercial relationship between parties, establishing clear terms for commission calculations, payment schedules, and performance expectations. It ensures compliance with Singapore's Estate Agents Act 2010 and CEA regulations while protecting both parties' interests. The agreement is particularly crucial in regulated industries where commission-based sales are common, providing a framework for professional services delivery and compensation.
Suggested Sections

1. Parties: Identifies the broker/agent and the principal company, including registration details and addresses

2. Background: Context of the agreement and brief description of the business relationship

3. Definitions: Key terms used throughout the agreement, including 'Commission', 'Territory', 'Services'

4. Appointment and Scope: Terms of appointment and detailed scope of services to be provided

5. Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms

6. Obligations of the Agent: Agent's duties, responsibilities, and compliance requirements under CEA regulations

7. Term and Termination: Duration of agreement and circumstances for termination

8. Compliance with Laws: Commitment to comply with relevant Singapore laws and CEA regulations

Optional Sections

1. Non-Compete Clause: Restrictions on working with competitors, used when protecting market share in specific territories

2. Performance Targets: Specific sales or business targets, included for performance-based agreements

3. Training Requirements: Mandatory training and certification requirements, used when specific qualifications are needed

4. Marketing Support: Details of marketing assistance provided, included when marketing support is part of the arrangement

Suggested Schedules

1. Commission Rate Card: Detailed breakdown of commission rates for different products/services

2. Territory Map: Geographical area where agent is authorized to operate

3. Required Qualifications: List of mandatory certifications and qualifications

4. Reporting Templates: Standard forms for activity and performance reporting

5. CEA Guidelines: Relevant excerpts from CEA regulations and guidelines

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

Clauses
Industries

Estate Agents Act 2010: Primary legislation governing real estate agents and agencies in Singapore, establishing the regulatory framework and licensing requirements

Estate Agents (Estate Agency Work) Regulations 2010: Detailed regulations specifying the scope of estate agency work and operational requirements for agents

Estate Agents (Licensing and Registration) Regulations 2010: Specific regulations covering licensing and registration requirements for estate agents and salespersons

CEA Guidelines: Council for Estate Agencies' guidelines providing detailed operational and ethical standards for the real estate industry

Practice Guidelines for Estate Agents and Salespersons: Specific professional conduct and practice standards issued by CEA for industry practitioners

Professional Service Manual: Comprehensive guide outlining professional service standards and best practices in the real estate industry

Contract Law (Chapter 53): Singapore's contract law governing the formation and enforcement of legally binding agreements

Competition Law (Chapter 50B): Legislation ensuring fair competition and preventing anti-competitive practices in the real estate market

Personal Data Protection Act 2012: Law governing the collection, use, and disclosure of personal data in Singapore

Income Tax Act: Tax legislation relevant for commission-based income and reporting requirements

CEA Code of Ethics and Professional Client Care: Ethical guidelines and standards for client service in the real estate industry

Consumer Protection (Fair Trading) Act: Legislation protecting consumers against unfair practices in real estate transactions

Unfair Contract Terms Act: Law regulating and preventing unfair terms in contracts between businesses and consumers

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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