Brokerage Business Agreement
This Brokerage Business Agreement ("Agreement") is entered into on December 15, 2066, by and between [YOUR COMPANY NAME], located at [YOUR COMPANY ADDRESS], hereinafter referred to as "Broker," and Adela Abshire, located at Montgomery, AL 36101, hereinafter referred to as "Client." Collectively, these parties may be referred to as "Parties."
I. DEFINITIONS
1.1 "Services"
The term "Services" shall refer to the brokerage services provided by the Broker, including but not limited to real estate brokerage and consultation.
1.2 "Agreement Term"
"Agreement Term" refers to the duration during which this Agreement remains in effect, as specified in Section III below.
II. SCOPE OF SERVICES
The Broker agrees to provide the Client with the following services:
The Client agrees to cooperate fully with the Broker in the performance of the Services and to provide all necessary information and access to relevant documentation required for the completion of the Services.
III. TERM OF AGREEMENT
This Agreement shall commence on January 1, 2067 and shall remain in effect until December 31, 2067, unless terminated earlier in accordance with Section IX of this Agreement.
IV. COMPENSATION
4.1 Fees
The Client agrees to pay the Broker a commission of 5% of the transaction value for the Services.
4.2 Payment Terms
Payment shall be made as follows:
V. CONFIDENTIALITY
Both Parties agree to maintain the confidentiality of any non-public information exchanged between them during the term of this Agreement. This obligation shall survive the termination of this Agreement.
VI. REPRESENTATIONS AND WARRANTIES
6.1 Broker's Representations
The Broker represents and warrants that:
It has the necessary qualifications, licenses, and experience to perform the Services;
The Services shall be performed in a professional and timely manner.
6.2 Client's Representations
The Client represents and warrants that:
VII. INDEMNIFICATION
The Client agrees to indemnify and hold harmless the Broker, its employees, and agents from any claims, damages, or liabilities arising out of the Client’s breach of this Agreement or negligence in connection with the performance of the Services.
VIII. LIMITATION OF LIABILITY
The Broker’s liability under this Agreement shall not exceed the total compensation received under this Agreement. In no event shall the Broker be liable for any indirect, incidental, or consequential damages.
IX. TERMINATION
This Agreement may be terminated as follows:
X. GOVERNING LAW AND DISPUTE RESOLUTION
10.1 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Alabama.
10.2 Dispute Resolution
Any disputes arising under this Agreement shall be resolved through arbitration, located in Montgomery, AL.
XI. MISCELLANEOUS
11.1 Entire Agreement
This Agreement constitutes the entire agreement between the Parties and supersedes any prior agreements or understandings.
11.2 Amendments
This Agreement may only be amended in writing signed by both Parties.
11.3 Assignment
Neither Party may assign its rights or obligations under this Agreement without the prior written consent of the other Party.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.
BROKER:
[YOUR NAME], Owner
[YOUR COMPANY NAME]
Date: December 15, 2066
CLIENT:
Adela Abshire, Owner
Virtooso
Date: December 15, 2066
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