The Brokerage Contract serves as the foundational agreement for establishing and regulating professional brokerage relationships under Austrian law. This document is essential when engaging a broker to facilitate transactions, whether in real estate, financial services, or other commercial sectors. The contract comprehensively addresses the rights and obligations of both the broker and client, including specific provisions required by Austrian legislation such as the Maklergesetz and ABGB. It is particularly important for ensuring clarity on commission structures, service scope, and compliance requirements. The document includes necessary data protection provisions in line with GDPR and Austrian privacy laws, making it suitable for modern business relationships while maintaining compliance with Austrian regulatory requirements.
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1. Parties: Identification of the broker and the client, including full legal names, addresses, and registration details if applicable
2. Background: Context of the brokerage relationship and general purpose of the agreement
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Scope of Services: Detailed description of the brokerage services to be provided, including specific duties and responsibilities of the broker
5. Broker's Obligations: Detailed obligations of the broker including duty of care, information obligations, and compliance with relevant regulations
6. Client's Obligations: Client's duties including provision of necessary information and cooperation requirements
7. Commission and Payment Terms: Structure and timing of broker's compensation, including circumstances triggering payment obligation
8. Term and Termination: Duration of the agreement and conditions for termination by either party
9. Confidentiality: Obligations regarding confidential information and trade secrets
10. Data Protection: Compliance with GDPR and Austrian data protection laws
11. Liability and Insurance: Extent of broker's liability and required professional insurance coverage
12. Governing Law and Jurisdiction: Confirmation of Austrian law application and competent courts
13. Entire Agreement: Integration clause confirming the contract represents the complete agreement between parties
1. Exclusivity: Terms regarding exclusive brokerage rights - include when the broker has exclusive rights to represent the client
2. Success Bonus: Additional compensation terms for exceeding specified targets - include when performance bonuses are part of the compensation structure
3. Sub-Brokers: Terms governing the appointment and use of sub-brokers - include when sub-brokers may be engaged
4. International Transactions: Specific provisions for cross-border activities - include when international business is contemplated
5. Force Majeure: Provisions for unforeseen circumstances preventing performance - include when long-term or high-value contracts are involved
6. Non-Compete: Restrictions on competitive activities - include when protecting business interests is crucial
7. Marketing Authorization: Terms regarding the broker's authority to market and advertise - include when marketing activities are part of the service
8. Dispute Resolution: Alternative dispute resolution procedures - include when parties prefer mediation or arbitration over court proceedings
1. Schedule 1 - Service Description: Detailed breakdown of specific brokerage services and activities to be performed
2. Schedule 2 - Commission Structure: Detailed commission calculations, rates, and payment scenarios
3. Schedule 3 - Required Documentation: List of documents and information required from the client
4. Schedule 4 - Compliance Requirements: Specific regulatory requirements and compliance procedures
5. Appendix A - Power of Attorney: If applicable, specific authorizations granted to the broker
6. Appendix B - Data Processing Agreement: Detailed terms for handling personal data in compliance with GDPR
7. Appendix C - Standard Operating Procedures: Agreed procedures for routine operations and communications
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Financial Services
Insurance
Commodities Trading
Business Brokerage
Art and Luxury Goods
Import/Export
Investment Services
Commercial Property
Mergers and Acquisitions
Relevant Teams
Legal
Compliance
Business Development
Sales
Operations
Risk Management
Contract Administration
Procurement
Real Estate
Investment Services
Relevant Roles
Broker
Real Estate Agent
Commercial Director
Legal Counsel
Compliance Officer
Business Development Manager
Contract Manager
Risk Manager
Chief Operating Officer
Property Manager
Investment Advisor
Business Broker
Procurement Manager
Sales Director
Managing Director
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