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Exclusive Agency Agreement Commission
"I need an Exclusive Agency Agreement Commission for appointing a real estate agent as our sole representative in Singapore's Central Region, with a tiered commission structure starting at 2% for properties under $1M and increasing to 3% for properties over $1M, effective from March 2025."
1. Parties: Identification and details of the Principal and Agent
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of exclusive appointment and scope of agency services
5. Duration: Term of the agreement including commencement and expiry dates
6. Commission Structure: Detailed breakdown of commission rates and calculation methods
7. Payment Terms: Terms and timing of commission payments
8. Obligations of Agent: Agent's duties, responsibilities and performance standards
9. Obligations of Principal: Principal's duties and responsibilities
10. Termination: Grounds and procedures for termination
11. Governing Law: Specification of Singapore law as governing law
1. Non-Competition: Restrictions on competitive activities during and after the agreement term
2. Intellectual Property: Protection and usage rights of intellectual property in the agency relationship
3. Force Majeure: Provisions for handling unforeseen circumstances and events beyond parties' control
4. Data Protection: Compliance with Personal Data Protection Act (PDPA) and data handling procedures
5. Insurance: Requirements for insurance coverage and liability protection
1. Commission Rate Schedule: Detailed breakdown of commission rates for different services or transactions
2. Territory Schedule: Definition of geographical area covered by exclusivity
3. Service Level Agreement: Detailed performance metrics and standards
4. Required Documentation: List of documents required for commission claims
5. Reporting Templates: Standard formats for regular reporting requirements
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