The Equipment Broker Agreement is essential when establishing a formal relationship between equipment brokers and their clients in the United States. This document is particularly important in situations where specialized equipment needs to be bought, sold, or leased through an intermediary. The agreement covers crucial aspects such as commission structures, service territories, exclusivity rights, and compliance with federal and state regulations. It provides clear guidelines for all parties involved while protecting their interests and ensuring transparent business operations. The document is designed to comply with U.S. commercial laws and includes specific provisions for different types of equipment and industry requirements.
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1. Parties: Identification of the broker and the client, including full legal names and addresses
2. Background: Context of the agreement, nature of the business relationship, and purpose of the brokerage arrangement
3. Definitions: Key terms used throughout the agreement including Equipment, Territory, Commission, etc.
4. Scope of Services: Detailed description of broker's services, responsibilities, and obligations
5. Commission Structure: Payment terms, commission calculations, payment schedules, and related financial terms
6. Term and Termination: Duration of the agreement and conditions for termination or renewal
7. Representations and Warranties: Statements of fact and promises by both parties regarding authority, compliance, and capabilities
8. Compliance with Laws: Obligations to comply with applicable laws, regulations, and licensing requirements
9. Indemnification: Mutual obligations to protect against losses and liability
10. Insurance: Required insurance coverage and minimum limits
11. Confidentiality: Protection of confidential information and trade secrets
12. General Provisions: Standard legal provisions including notices, assignment, governing law, etc.
1. Exclusivity: Terms defining exclusive representation rights and territories when broker requires exclusive rights
2. International Operations: Special provisions for cross-border transactions and international equipment brokerage
3. Specialized Equipment Provisions: Specific terms and conditions for regulated or specialized equipment categories
4. Training and Support: Terms regarding training, technical support, and resources provided by either party
5. Marketing Requirements: Specific obligations regarding marketing and promotion of equipment
1. Schedule A - Commission Schedule: Detailed breakdown of commission structures and calculations for different equipment types
2. Schedule B - Equipment Categories: Comprehensive list of equipment types covered under the agreement
3. Schedule C - Service Territory: Detailed description of geographic territories where broker is authorized to operate
4. Schedule D - Insurance Requirements: Specific insurance requirements including types of coverage and minimum limits
5. Schedule E - Compliance Requirements: List of specific regulatory requirements and necessary licenses
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
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