Exclusive Agency Agreement Commission Template for Singapore

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Key Requirements PROMPT example:

Exclusive Agency Agreement Commission

"I need an Exclusive Agency Agreement Commission for appointing a real estate agent as our sole representative in Singapore's Central Region, with a tiered commission structure starting at 2% for properties under $1M and increasing to 3% for properties over $1M, effective from March 2025."

Document background
The Exclusive Agency Agreement Commission is a crucial document in Singapore's business landscape, used when a Principal wishes to appoint an Agent as their sole representative for specific activities or territories. This agreement type is particularly important in regulated industries where clear documentation of agency relationships is required. It includes detailed provisions for commission calculations, payment terms, and performance metrics, while ensuring compliance with Singapore's legal framework. The document is essential for businesses seeking to establish protected, exclusive agency relationships with clear financial terms and obligations.
Suggested Sections

1. Parties: Identification and details of the Principal and Agent

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope: Terms of exclusive appointment and scope of agency services

5. Duration: Term of the agreement including commencement and expiry dates

6. Commission Structure: Detailed breakdown of commission rates and calculation methods

7. Payment Terms: Terms and timing of commission payments

8. Obligations of Agent: Agent's duties, responsibilities and performance standards

9. Obligations of Principal: Principal's duties and responsibilities

10. Termination: Grounds and procedures for termination

11. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Non-Competition: Restrictions on competitive activities during and after the agreement term

2. Intellectual Property: Protection and usage rights of intellectual property in the agency relationship

3. Force Majeure: Provisions for handling unforeseen circumstances and events beyond parties' control

4. Data Protection: Compliance with Personal Data Protection Act (PDPA) and data handling procedures

5. Insurance: Requirements for insurance coverage and liability protection

Suggested Schedules

1. Commission Rate Schedule: Detailed breakdown of commission rates for different services or transactions

2. Territory Schedule: Definition of geographical area covered by exclusivity

3. Service Level Agreement: Detailed performance metrics and standards

4. Required Documentation: List of documents required for commission claims

5. Reporting Templates: Standard formats for regular reporting requirements

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 agency business in Singapore, including licensing requirements, duties of estate agents, and commission structures

Civil Law Act (Cap. 43): Fundamental legislation governing civil law matters in Singapore, including contract formation, enforcement, and remedies

Common Law Contract Principles: Singapore's contract law is based on common law principles, governing contract formation, terms, breach, and remedies

Competition Act (Cap. 50B): Regulates competition law and exclusive dealing arrangements, ensuring exclusivity provisions do not violate competition laws

Council for Estate Agencies (CEA) Guidelines: Regulatory guidelines for real estate agencies and agents, including professional conduct and commission practices

Monetary Authority of Singapore (MAS) Guidelines: Regulatory framework for financial services sector, including guidelines on commission structures and agency relationships

Electronic Transactions Act: Governs the legal recognition and use of electronic signatures and records in contractual agreements

Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data in Singapore, ensuring privacy protection in agency relationships

Consumer Protection (Fair Trading) Act: Protects consumer interests and ensures fair trading practices in agency relationships involving consumers

Employment Act: Relevant if the agency relationship could be construed as employment, covering basic terms and working conditions

Central Provident Fund Act: Mandatory social security savings scheme that may apply if the relationship is deemed employment rather than agency

Income Tax Act: Governs taxation of commission income and reporting requirements for agency relationships

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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