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Commercial Lease Commission Agreement

Commercial Lease Commission Agreement Template for Singapore

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Key Requirements PROMPT example:

Commercial Lease Commission Agreement

"Need a Commercial Lease Commission Agreement for my property management company based in Singapore, acting as an exclusive agent for a new Grade A office building in the CBD area, with a tiered commission structure based on lease duration and tenant quality."

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Document background
The Commercial Lease Commission Agreement is essential for property transactions in Singapore's commercial real estate market. It is used when property owners engage real estate agents to secure tenants for their commercial properties. The agreement specifies commission structures, payment triggers, and service scope while ensuring compliance with Singapore's Estate Agents Act and CEA regulations. This document protects both parties' interests by clearly defining obligations, exclusivity terms, and commission calculations for successful lease arrangements.
Suggested Sections

1. Parties: Identification of the agent/agency and the client

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement

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

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

6. Payment Terms: When and how commission payments will be made

7. Agent's Obligations: Duties and responsibilities of the agent

8. Client's Obligations: Duties and responsibilities of the client

9. Term and Termination: Duration of agreement and termination conditions

Optional Sections

1. Exclusivity: Terms of exclusive agency rights when granted to the agent

2. Sub-Agents: Terms and conditions for engaging sub-agents in the property transaction

3. Marketing Plan: Specific marketing strategies and commitments agreed between parties

4. Force Majeure: Provisions for handling unforeseen circumstances and external events

Suggested Schedules

1. Schedule 1: Property Details: Detailed description of the property and its specifications

2. Schedule 2: Commission Rate Card: Detailed breakdown of commission rates for different scenarios

3. Schedule 3: Marketing Activities: Detailed marketing plan and activities if applicable

4. Appendix A: Agent's Credentials: Copy of agent's license and certifications

5. Appendix B: Standard Terms and Conditions: CEA prescribed terms and conditions

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

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alex.den.21@genieai.co
Industries

Estate Agents Act 2010 (Cap. 95A): Primary legislation governing real estate agencies and agents in Singapore. Establishes licensing requirements, commission structures, and defines duties of estate agents.

Estate Agents (Estate Agency Work) Regulations 2010: Subsidiary legislation providing detailed rules for estate agency work and specific requirements for agreements and documentation.

Council for Estate Agencies (CEA) Guidelines: Regulatory guidelines covering professional service standards, fee guidelines, and the Code of Ethics and Professional Client Care.

Civil Law Act (Cap. 43): Fundamental legislation governing contract law principles, validity of contracts, and contractual obligations and remedies in Singapore.

Personal Data Protection Act 2012 (PDPA): Legislation governing the handling of personal data, privacy requirements, and data protection obligations in business transactions.

Consumer Protection (Fair Trading) Act: Law ensuring fair trading practices, protecting consumer rights, and preventing unfair practices in business transactions.

Stamp Duties Act: Legislation governing requirements for document stamping and applicable duties and taxes in real estate transactions.

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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