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The Mortgage Broker Exclusivity Agreement is a crucial document used in Canadian mortgage financing transactions when a client wishes to engage a mortgage broker as their exclusive representative. This agreement is particularly important in both residential and commercial mortgage scenarios, where clients seek professional assistance in securing optimal mortgage terms. The document ensures clarity in the business relationship, protecting both the broker's right to compensation and the client's right to professional service. It includes specific provisions required by Canadian provincial mortgage brokerage regulations, such as disclosure requirements, licensing details, and privacy considerations. The agreement is commonly used when clients require comprehensive mortgage services and want to benefit from a broker's full attention and negotiating power, while brokers seek to secure their investment of time and resources in sourcing mortgage options.

1. Parties: Identification of the mortgage broker/brokerage and the client, including full legal names and contact details

2. Background: Context of the agreement, including the client's intention to seek mortgage financing and the broker's qualifications

3. Definitions: Key terms used throughout the agreement, including 'Exclusive Period', 'Mortgage Financing', 'Success Fee', etc.

4. Appointment and Scope of Services: Details of the exclusive appointment and comprehensive list of services the broker will provide

5. Exclusivity Period: Duration of the exclusive arrangement and any conditions for extension or early termination

6. Broker's Obligations: Detailed responsibilities of the broker, including searching for suitable mortgage options, negotiating terms, and providing advice

7. Client's Obligations: Client's responsibilities, including providing accurate information, documentation, and maintaining exclusive dealing

8. Compensation Structure: Details of all fees, commissions, and when/how they become payable

9. Confidentiality: Provisions regarding the handling and protection of confidential information

10. Regulatory Compliance: Acknowledgment of applicable regulations and compliance requirements

11. Termination: Conditions and process for terminating the agreement

12. General Provisions: Standard legal clauses including governing law, notices, and entire agreement