The Buyer Agent Commission Agreement is a crucial document in Singapore's real estate industry, designed to formalize the relationship between property buyers and their appointed agents. This agreement is particularly important under Singapore's regulatory framework, which requires clear documentation of agency relationships and commission structures. It outlines the agent's duties, commission rates, and service scope while ensuring compliance with the Estate Agents Act 2010 and CEA guidelines. The agreement is essential for protecting both parties' interests and establishing clear expectations in property transactions.
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1. Parties: Identification of the buyer's agent and the client
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope of Services: Details of agent's appointment and services to be provided
5. Commission Structure: Details of fees, payment terms, and conditions for commission
6. Agent's Obligations: Duties and responsibilities of the agent
7. Client's Obligations: Duties and responsibilities of the client
8. Term and Termination: Duration of agreement and termination provisions
9. Confidentiality: Obligations regarding confidential information
1. Exclusivity: Terms of exclusive appointment, used when agent has sole rights
2. International Properties: Additional terms for overseas property transactions
3. Multiple Properties: Terms for handling multiple property searches
4. Special Requirements: Any specific client requirements or conditions
1. Schedule of Services: Detailed breakdown of services to be provided
2. Commission Schedule: Detailed breakdown of commission rates and calculations
3. Property Requirements: Client's specific property requirements and preferences
4. Agency Disclosure Form: Standard CEA disclosure form
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