Broker To Broker Commission Agreement for Malta
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Broker To Broker Commission Agreement
"I need a Broker to Broker Commission Agreement for a real estate brokerage firm in Malta collaborating with an international property broker, with a focus on luxury properties and a 60-40 commission split structure, to be effective from March 2025."
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1. Parties: Identification of the participating brokers, including full legal names, registration numbers, and registered addresses
2. Background: Context of the agreement, brief description of each broker's business, and purpose of the collaboration
3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'Commission', 'Clients', 'Services', 'Territory', etc.
4. Scope of Agreement: Defines the nature of the relationship between the brokers and the territorial scope of their collaboration
5. Commission Structure: Details of commission rates, calculation methods, and payment terms
6. Payment Terms: Specifics about payment timing, currency, method of payment, and handling of taxes
7. Obligations of the Parties: Detailed responsibilities and duties of each broker, including regulatory compliance requirements
8. Regulatory Compliance: Commitments to comply with relevant laws, including AML, financial services regulations, and data protection
9. Confidentiality: Provisions for handling confidential information and client data
10. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
11. Dispute Resolution: Procedures for handling disputes, including jurisdiction and applicable law
12. General Provisions: Standard clauses including notices, amendments, assignment, and severability
1. Non-Competition: Restrictions on competing activities, used when brokers want to prevent direct competition in specific markets
2. White Labeling: Terms for using each other's branding, included when one broker's services are marketed under the other's brand
3. Service Level Agreement: Specific performance metrics and standards, included for complex operational relationships
4. Insurance Requirements: Specific insurance obligations, included when dealing with high-value transactions or specific risks
5. Marketing and Promotion: Terms governing joint marketing activities, included when brokers plan collaborative promotional efforts
6. Data Processing Agreement: Detailed GDPR compliance terms, required when significant personal data processing is involved
7. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in volatile markets or uncertain conditions
1. Schedule 1 - Commission Rates: Detailed breakdown of commission rates for different types of transactions or services
2. Schedule 2 - Territory Definition: Specific geographical areas or markets covered by the agreement
3. Schedule 3 - Service Specifications: Detailed description of services covered under the agreement
4. Schedule 4 - Compliance Procedures: Specific procedures for ensuring regulatory compliance
5. Schedule 5 - Reporting Templates: Standard formats for regular reporting between parties
6. Appendix A - Required Licenses: Copies or details of regulatory licenses held by each party
7. Appendix B - Contact Details: Key contact information for both parties, including escalation procedures
Authors
Financial Services
Insurance
Real Estate
Investment Banking
Commodity Trading
Securities Trading
Foreign Exchange
Maritime Services
Gaming Industry
Investment Services
Commercial Property
Business Consulting
Legal
Compliance
Finance
Operations
Business Development
Risk Management
Regulatory Affairs
Partnerships
Contracts Administration
Executive Leadership
Treasury
Account Management
Chief Executive Officer
Managing Director
Compliance Officer
Legal Counsel
Business Development Manager
Finance Director
Operations Manager
Risk Manager
Broker
Senior Broker
Commission Manager
Regulatory Affairs Officer
Partnership Manager
Contract Manager
Chief Financial Officer
Head of Compliance
Director of Operations
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