Service Brokerage Agreement
This business sale representation agreement is made and entered into on between, Flippers (SMC – Private) Ltd registered with SECP – Pakistan (hereinafter called as “Consultant”) And (hereinafter called as “Owner”) who is the legal owner or representative of owner(s) for the business (hereinafter called as “Business”); details of which are given as below;
Recitals
Whereas the Vendor is desirous to appoint and authorize the Service Broker as his agent, giving him the sole, exclusive, and permanent authority to render services to customers. The suggested and agreed-upon terms outlined in this agreement or for any terms to which the vendor consents throughout the single and exclusive time frame beginning on the date this agreement is signed and lasting until it is valid. Whereas, the Service Broker has agreed to this engagement by promising to utilize its best efforts as part of the Consultant’s routine business operations to advertise, and offer for the Services and to procure a ready, interested, willing, and qualified Client (hereinafter referred to as “Service seeker/Client”). Whereas both Parties are agreed to the terms and conditions of this agreement in order to execute the transaction more effectively;
- The vendor certifies that he has all necessary rights to represent the services, and he gives the Service Broker permission to do so in order to provide the services and find a client (Service Buyer).
- Vendor understands and hereby acknowledges that all facts, figures, and other information provided and all additional supporting Representation pertaining to the service they render are true and accurate and that Service Broker will rely on Vendors representations of facts, figure, and other information when promoting your services to the potential Clients without making an investigation into the accuracy of such representations by vendor
- Vendor is aware of and agrees that, as per the terms of this agreement, the Service Broker is not obligated to ensure the sale of the services, but will make a sincere and diligent attempt to sell and render services through you to the Clients.
- Vendor hereby give permission for Service Broker to choose to operate as dual agent and/or rendering (service) agent as needed.
- Vendor agrees to compensate the Service Broker as its management fee or commission of 20% of the total service.
- Broker remuneration will be paid by Vendor on the day of signing to render services and obtaining a deposit.
- Service Broker is allowed to give discounts to clients from the 20% commission they would receive.
- The full commission and management fee are considered as earned and due to Service Broker in case if.
a. The client requires services by vendors introduced by the Broker, is signed and/or down payment is made available to the vendor.
b. If Vendors cancel/ withdraws to render the services.
c. Refuses and unable to provide services due to whatsoever the reason may be.
d. Delays due to any situation/circumstances and Vendors withdraws its intent of services.
This agreement will be in effect for 1 year from the date of execution or until the transaction is completed. Thereafter, it will automatically renew every three months until one party gives the other party 30 days’ notice in writing.
Both parties’ responsibilities and obligations to each other and/or to third parties are strictly governed by the terms and conditions of this agreement. Service Broker doesn’t imply any representation, warranty, or guarantee of any kind, and will not be held responsible for any direct or indirect loss, loss of profit, personal injury, emotional distress, special damages, or consequential damages resulting from any performance delay or nonperformance for any reason.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, and assigns.
This Agreement shall constitute the entire agreement between the parties and will supersede any prior understanding or representation
Any dispute which may arise in connection with the interpretation of the provisions of this contract shall be amicably settled, failing which; State and/or Federal Law of USA will be the governing rule. The award of the arbitration shall be final and binding upon both parties. Nothing in this Agreement is intended to contradict any mandatory provision of any Applicable Law.