The Buyer Broker Commission Agreement is essential for establishing professional relationships in Singapore's real estate market. This document is typically used when a buyer seeks dedicated representation in property transactions, requiring clear documentation of commission structures and service expectations. It ensures compliance with Singapore's Estate Agents Act and CEA requirements, while protecting both parties' interests. The agreement specifies commission rates, payment terms, scope of services, and duration of representation, forming the foundation for the broker-buyer relationship.
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1. Parties: Identification of broker and buyer with full legal names and addresses
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of broker's services and obligations
5. Commission Structure: Commission rates, calculation method, and payment terms
6. Term and Termination: Duration of agreement and termination conditions
7. Obligations of Parties: Specific duties and responsibilities of both broker and buyer
8. Governing Law: Specification of Singapore law as governing law
1. Exclusivity: Terms of exclusive representation when broker requires exclusive rights to represent buyer
2. Protection Period: Post-termination commission rights and protection for deals initiated during agreement
3. Dispute Resolution: Specific dispute resolution procedures when parties want detailed conflict resolution process
1. Commission Rate Schedule: Detailed breakdown of commission rates for different property types/values
2. Service Level Agreement: Detailed scope of services and performance metrics
3. Property Requirements: Buyer's specific property requirements and preferences
4. Agency Disclosure Form: Required CEA disclosure forms and documentation
Relevant legal definitions
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