The Business Broker Listing Agreement is a crucial document used when a business owner decides to engage a professional broker to sell their business in Ireland. This agreement establishes the formal relationship between the parties and outlines the broker's authority to market and negotiate the sale of the business. It is essential for compliance with Irish regulations, particularly the Property Services (Regulation) Act 2011, and includes specific provisions for commission structures, service levels, confidentiality, and marketing authorizations. The document is typically used at the beginning of the sales process and remains active throughout the agreed listing period, protecting both the broker's interests in securing commission and the owner's interests in maintaining confidentiality and achieving a successful sale.
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1. Parties: Identifies the business broker and the business owner (client), including full legal names and addresses
2. Background: Outlines the context of the agreement, stating that the owner wishes to sell the business and engage the broker's services
3. Definitions: Defines key terms used throughout the agreement, including 'Business', 'Listing Period', 'Commission', and 'Qualified Buyer'
4. Appointment and Authority: Grants the broker the right to market and sell the business, specifying whether the appointment is exclusive or non-exclusive
5. Broker's Services: Details the specific services the broker will provide, including marketing, buyer screening, and negotiation assistance
6. Listing Period: Specifies the duration of the agreement and any automatic renewal provisions
7. Commission Structure: Details the broker's fees, including commission rate, minimum fees, and payment terms
8. Owner's Obligations: Lists the business owner's responsibilities, including providing accurate information and cooperation
9. Confidentiality: Outlines confidentiality obligations regarding business information and potential buyers
10. Marketing Authorization: Specifies permitted marketing activities and use of business information
11. Termination: States conditions under which either party can terminate the agreement and the consequences
12. Post-Termination Obligations: Describes obligations that survive after agreement termination, including commission rights
13. Governing Law: Confirms Irish law governs the agreement and jurisdiction for disputes
1. Tail Period Provisions: Used when including a period after termination during which the broker may still earn commission
2. Multiple Broker Coordination: Include when the owner may work with multiple brokers to specify how they will interact
3. Success Fee Structure: Used for complex commission structures with performance bonuses or sliding scales
4. International Sale Provisions: Include when marketing to international buyers is anticipated
5. Real Estate Components: Required when the business sale includes real estate assets
6. Dispute Resolution: Optional detailed ADR procedures beyond standard court jurisdiction
7. Force Majeure: Include when specific provisions for unforeseen circumstances are needed
1. Schedule 1: Business Description: Detailed description of the business, including assets, operations, and key information
2. Schedule 2: Commission Structure: Detailed breakdown of commission rates, payment terms, and any special fee arrangements
3. Schedule 3: Approved Marketing Material: Templates or examples of authorized marketing materials and information
4. Schedule 4: Confidentiality Terms: Detailed confidentiality provisions and NDA requirements for potential buyers
5. Schedule 5: Due Diligence Checklist: List of required documents and information for due diligence process
6. Appendix A: Required Disclosures: Mandatory disclosures required under Irish law and regulatory requirements
7. Appendix B: Service Level Agreement: Detailed breakdown of specific services and response times provided by the broker
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