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Broker Agreement Commission for Philippines

Broker Agreement Commission Template for Philippines

A comprehensive agreement governed by Philippine law that establishes the terms and conditions for broker commission arrangements, including the scope of services, commission structure, payment terms, and obligations of both parties. This document ensures compliance with the Real Estate Service Act (RESA) and relevant Philippine regulations while protecting the interests of both the principal and the broker. It outlines specific performance requirements, commission calculations, payment triggers, and dispute resolution mechanisms, all within the framework of Philippine commercial and agency law.

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Broker Agreement Commission

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What is a Broker Agreement Commission?

The Broker Agreement Commission is essential for formalizing commercial relationships between principals and brokers in the Philippines. This document is primarily used when engaging professional brokers for various commercial transactions, particularly in real estate, financial services, and general commerce. It must comply with Philippine legislation, specifically the Real Estate Service Act (RESA) for real estate transactions, the Civil Code provisions on agency relationships, and relevant tax regulations. The agreement typically includes detailed commission structures, performance metrics, payment terms, and compliance requirements. It's particularly important in the Philippine context where broker relationships require clear documentation for tax purposes and regulatory compliance. The document serves as a crucial risk management tool by clearly defining the scope of the broker's authority, responsibilities, and compensation structure.

What sections should be included in a Broker Agreement Commission?

1. Parties: Identification of the Principal and the Broker, including their complete legal names, addresses, and license details (for the Broker)

2. Background: Context of the agreement, including the Principal's intention to engage the Broker's services

3. Definitions: Key terms used throughout the agreement, including 'Commission', 'Property', 'Successful Transaction', etc.

4. Appointment: Formal appointment of the Broker and scope of authority

5. Broker's Services: Detailed description of services to be provided by the Broker

6. Commission Structure: Details of commission rates, calculation methods, and payment terms

7. Payment Terms: Timing and method of commission payments, including conditions precedent

8. Broker's Obligations: Specific duties, responsibilities, and professional standards the Broker must maintain

9. Principal's Obligations: Responsibilities and commitments of the Principal

10. Term and Termination: Duration of the agreement and circumstances for termination

11. Confidentiality: Protection of confidential information and trade secrets

12. Governing Law: Specification of Philippine law as governing law and jurisdiction

13. Dispute Resolution: Process for resolving disputes between parties

14. General Provisions: Standard clauses including notices, amendments, and severability

What sections are optional to include in a Broker Agreement Commission?

1. Exclusivity: Used when the Broker is granted exclusive rights to represent the Principal

2. Sub-Brokers: Include when the Broker is permitted to engage sub-brokers

3. Marketing Budget: When specific marketing activities and associated costs are to be outlined

4. Performance Targets: When specific performance metrics are required for the Broker

5. International Transactions: Include for cross-border transactions or international clients

6. Insurance Requirements: When specific insurance coverage is required for the Broker

7. Non-Compete: When restrictions on the Broker's other business activities are needed

8. Data Protection: When handling personal data requires specific provisions

What schedules should be included in a Broker Agreement Commission?

1. Schedule A - Commission Rates: Detailed breakdown of commission rates for different types of transactions

2. Schedule B - Property Details: List of properties covered by the agreement (for specific property assignments)

3. Schedule C - Service Level Requirements: Specific performance metrics and service standards

4. Schedule D - Marketing Plan: Detailed marketing strategy and budget allocation

5. Appendix 1 - Broker's Licenses: Copies of relevant licenses and certifications

6. Appendix 2 - Required Forms: Standard forms and documentation required for transactions

7. Appendix 3 - Reporting Templates: Templates for regular reports and performance updates

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions































Clauses


































Relevant Industries

Real Estate

Financial Services

Insurance

Commercial Property

Residential Property

Industrial Property

Investment Banking

Commercial Trading

Import/Export

Business Services

Retail

Construction

Relevant Teams

Legal

Finance

Compliance

Real Estate

Sales

Business Development

Operations

Risk Management

Commercial

Property Management

Contract Administration

Transaction Management

Relevant Roles

Real Estate Broker

Commercial Director

Business Development Manager

Sales Director

Property Manager

Legal Counsel

Compliance Officer

Finance Director

Chief Financial Officer

Operations Manager

Contract Administrator

Risk Manager

Transaction Manager

Investment Officer

Asset Manager

Commission Administrator

Industries






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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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