Independent Broker Agreement

Independent Broker Agreement Template for Philippines

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Key Requirements PROMPT example:

"I need an Independent Broker Agreement for our real estate company based in Manila, which will engage 5 independent brokers to sell luxury properties in the Makati area, with a standard 3% commission structure and quarterly performance reviews starting March 2025."

Document background

The Independent Broker Agreement is essential for companies operating in the Philippines who engage independent contractors for brokerage services. This document is specifically designed to comply with Philippine law, including the Civil Code of the Philippines, Securities Regulation Code, and relevant industry regulations. It's commonly used when companies need to formalize relationships with brokers who will represent their products or services while maintaining clear independent contractor status. The agreement covers crucial aspects such as commission structures, compliance requirements, territorial rights, and service obligations while protecting both parties' interests. It's particularly important in regulated industries where clear documentation of relationships and responsibilities is required by law.

Suggested Sections

1. Parties: Identifies the contracting parties - the company engaging the broker and the independent broker, including complete legal names and addresses

2. Background: Explains the context of the agreement, including the company's business, the broker's expertise, and the intention to establish an independent contractor relationship

3. Definitions: Defines key terms used throughout the agreement, including specific industry terminology and regulatory references

4. Appointment and Scope of Services: Details the broker's appointment, territory, and specific services to be provided

5. Independent Contractor Status: Explicitly establishes the broker's status as an independent contractor, not an employee

6. Compensation and Payment Terms: Specifies commission rates, payment schedules, and calculation methods

7. Duties and Responsibilities: Outlines specific obligations of the broker, including reporting requirements and service standards

8. Compliance Requirements: Details regulatory compliance obligations, including licenses, permits, and adherence to applicable laws

9. Confidentiality: Provisions protecting confidential information and trade secrets

10. Term and Termination: Specifies agreement duration, renewal terms, and termination conditions

11. Non-Compete and Non-Solicitation: Restrictions on competitive activities during and after the agreement

12. Representations and Warranties: Standard declarations about capacity, authority, and compliance

13. Indemnification: Mutual indemnification provisions for losses arising from breach or negligence

14. General Provisions: Standard boilerplate clauses including notices, amendments, governing law, etc.

Optional Sections

1. Insurance Requirements: Details required insurance coverage - include when broker needs to maintain specific insurance policies

2. Marketing and Branding: Guidelines for using company branding - include when broker will represent company to clients

3. Data Protection: Specific data handling requirements - include when broker will process personal data

4. Training Requirements: Mandatory training programs - include when specific certifications or training are required

5. Performance Metrics: Specific performance targets and evaluation criteria - include when compensation is tied to performance

6. Dispute Resolution: Alternative dispute resolution procedures - include when parties prefer arbitration or mediation

7. Intellectual Property Rights: IP ownership and usage rights - include when broker may create or use proprietary materials

8. Sub-broker Relationships: Rules for engaging sub-brokers - include when broker may delegate services

Suggested Schedules

1. Schedule A - Commission Structure: Detailed breakdown of commission rates, tiers, and calculation methods

2. Schedule B - Territory Definition: Specific geographic or market segment boundaries for broker's activities

3. Schedule C - Product/Service List: Comprehensive list of products or services the broker is authorized to sell

4. Schedule D - Reporting Templates: Standard forms and formats for required reports and documentation

5. Schedule E - Compliance Procedures: Detailed compliance protocols and requirements

6. Appendix 1 - Required Licenses: List of mandatory licenses and certifications

7. Appendix 2 - Code of Conduct: Specific behavioral and ethical guidelines

8. Appendix 3 - Performance Standards: Detailed performance metrics and evaluation criteria

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Insurance

Financial Services

Securities Trading

Commodities

Import/Export

Logistics

Business Services

Technology Solutions

Manufacturing Distribution

Relevant Teams

Legal

Compliance

Business Development

Sales

Operations

Risk Management

Commercial

Partner Relations

Contracts Administration

Agency Management

Relevant Roles

Business Development Manager

Sales Director

Compliance Officer

Legal Counsel

Broker Relations Manager

Channel Manager

Operations Director

Chief Commercial Officer

Risk Manager

Contracts Administrator

Partnership Manager

Agency Relations Manager

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