This agreement is entered into as of this _________________ in Dubai, UAE by and between:
|
| Company Name |
SOLO GATE REAL ESTATE L.L.C |
Trade License |
1343513 ORN # 42870 |
| Phone |
+971 56 555 9040 |
Email: |
[email protected] |
| Address: Office 801, Oxford Tower, Business Bay, Dubai, UAE |
|
| Name: | ___________________________ |
Nationality: | ___________________________ |
| Passport/EID No.: | ___________________________ |
Mobile No.: | ___________________________ |
| Address | ___________________________ |
Email Add: | ___________________________ |
Recitals
WHEREAS, the Agency is engaged in the business of real estate brokerage – Selling and Buying of Properties in the UAE.
and,
WHEREAS, the Referrer desires to refer potential clients ("Referrals") to the Agency in exchange for a referral fee on any revenue generated by the Agency as a result of such introductions.
NOW, THEREFORE, the parties hereto agree as follows:
- Throughout the duration of this agreement, the Referrer shall be responsible for introducing potential clients to the Agency who are interested in buying, selling, or renting properties in the UAE.
- The Agency shall bear no liability for any contracts, obligations, agreements, sales contracts, or legally binding documents entered into between the Referrer and any of its clients.
-
In the event of a successful conclusion of a deal with the referred client, the Agency has agreed to share a portion of the commission it has earned with the Referrer. The distribution of this commission shall be based on the following terms:
Commission structure by lead type:
- 25% of the Agent's net share of the commission for Buyer Leads (client looking to purchase)
- 20% of the Agent's net share of the commission for Rental Leads (Landlord Leads and Tenant Leads)
- A flat fee of AED 1,000 for Seller Leads (client looking to sell), paid once the introduced property is sold by the Agency
- The percentages above are calculated on the Agent's net share of the commission actually received by the Agency on the concluded transaction (the total agency commission after the Agency's 50% split).
- The referral fee owed to the Referrer shall be disbursed through bank transfer within four (4) weeks following the receipt and clearance of the commission by the Agency's bank account. The payment method and details, including account information for bank transfers, shall be agreed between both parties. In the event of any delay or discrepancy in the commission payment, the parties shall promptly communicate and resolve the issue to ensure the timely disbursement of the referral fee to the Referrer.
- This agreement will not be limited to Direct Selling from Developers; it may cover market reselling should the introduced client(s) be interested in market re-sale.
- The Agency reserves the right to make changes to this document or its financial scheme structure at any point of time, if it deems it necessary, by notifying the other party in writing when and if those changes take place.
- The terms and conditions of this agreement are confidential between the parties and shall not be disclosed to anyone else. The referrer agrees that this contract is confidential between the Agency and the Referrer.
- The duration of this contract is 1 year from the signing of this agreement and can be renewed upon the mutual agreement of both parties. The Agency reserves the right to terminate this agreement by providing one (1) week notice to the Referrer.
Disclaimer: The payment of commission by the developer is always subject to changes based on Developer's policies and procedures.
IN WITNESS WHEREOF, the Parties hereby execute this Agreement on the date set herein above.
SIGNED by duly authorized representative of SOLO GATE REAL ESTATE L.L.C:
Signature: ______________________________
KARYNE DE CLERCQ
Property Advisor
Date: ________________
SIGNED by the Referrer:
Signature: ______________________________
Name: ________________
Date: ________________