Business Broker Listing Agreement

Business Broker Listing Agreement for the United Kingdom

Business Broker Listing Agreement Template for England and Wales

A Business Broker Listing Agreement under English and Welsh law is a legally binding contract between a business broker and a business owner/seller. The agreement establishes the terms under which the broker will market and facilitate the sale of the business, including commission structures, exclusivity rights, confidentiality obligations, and the scope of services. It provides protection for both parties and ensures clarity regarding responsibilities, payment terms, and duration of the listing relationship.

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What is a Business Broker Listing Agreement?

A Business Broker Listing Agreement is essential when engaging professional services for selling a business in England and Wales. This document formalizes the relationship between the broker and seller, outlining the broker's authority to market the business, access confidential information, and negotiate with potential buyers. The agreement typically includes detailed commission structures, marketing strategies, and protection mechanisms for both parties. It's particularly crucial for ensuring clear understanding of exclusivity rights, confidentiality obligations, and payment terms, while complying with relevant UK regulations and industry standards.

What sections should be included in a Business Broker Listing Agreement?

1. Parties: Identification of the broker and the business owner/seller

2. Background: Context of the agreement and brief description of the business being listed

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope: Terms of broker appointment and detailed scope of services

5. Duration: Term of the agreement including start date and termination provisions

6. Fees and Commission: Compensation structure, payment terms, and conditions for commission

7. Confidentiality: Obligations regarding confidential information

8. Seller's Obligations: Responsibilities and commitments of the business owner

9. Broker's Obligations: Responsibilities and commitments of the broker

What sections are optional to include in a Business Broker Listing Agreement?

1. Exclusivity: Terms of exclusive listing rights - used when broker requests exclusive rights to sell the business

2. Marketing Authorization: Specific permissions for marketing activities - used when specific marketing strategies need to be agreed upon

3. Tail Period: Post-termination period for commission claims - used when broker wants protection for leads generated during the listing period

4. Sub-broker Rights: Terms for working with other brokers - used when broker may need to collaborate with other brokers

What schedules should be included in a Business Broker Listing Agreement?

1. Schedule 1 - Business Description: Detailed description of the business being sold

2. Schedule 2 - Fee Structure: Detailed breakdown of fees and commission calculations

3. Schedule 3 - Marketing Plan: Agreed marketing strategy and activities

4. Appendix A - Required Documentation: List of documents required from the seller

5. Appendix B - Confidentiality Agreement: Standard form NDA for potential buyers

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Free to use

Relevant legal definitions

Clauses

Relevant Industries

Financial Services
Investment Management
Securities Trading
Wealth Management

Relevant Teams

Legal
Compliance
Trading
Risk Management
Client Services
Operations

Relevant Roles

Compliance Officer
Trading Director
Legal Counsel
Risk Manager
Relationship Manager

Industries

Estate Agents Act 1979: Primary legislation governing estate agency work. Relevant if the broker's activities fall within the definition of estate agency work, including requirements for transparency in dealings and disclosure obligations.

Financial Services and Markets Act 2000: Regulatory framework for financial services activities in the UK. Applicable if the broker engages in any regulated financial activities as part of their services.

Consumer Rights Act 2015: Legislation protecting consumer rights. Relevant if the broker deals with consumer clients, ensuring fair terms and transparency in contracts.

Data Protection Act 2018 and UK GDPR: Legal framework for data protection and privacy. Essential for handling client data, ensuring compliance with data protection principles and security requirements.

Common Law Contract Principles: Fundamental principles of contract formation under English law, including offer, acceptance, consideration, and intention to create legal relations.

Misrepresentation Act 1967: Legislation dealing with false or misleading statements made during contract formation. Relevant for ensuring accuracy in business listings and negotiations.

Unfair Contract Terms Act 1977: Controls the use of exclusion and limitation clauses in contracts. Essential for ensuring fairness in contract terms and liability provisions.

FCA Regulations: Financial Conduct Authority regulations governing financial services. Applicable if the broker provides regulated financial services or advice.

Business Protection from Misleading Marketing Regulations 2008: Regulations protecting businesses from misleading marketing practices. Relevant for ensuring accurate representation of business opportunities.

Money Laundering Regulations 2017: Anti-money laundering requirements including customer due diligence, risk assessment, and reporting obligations.

Competition Act 1998: Legislation governing competition law and anti-competitive practices. Relevant for exclusivity provisions and market conduct.

Enterprise Act 2002: Framework for competition and consumer protection. Important for understanding market regulation and fair trading practices.

Industry Codes of Practice: Professional standards and best practices specific to business brokers, including NAEA Propertymark guidelines where applicable.

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Sub Broker Agreement

An England & Wales agreement authorizing sub brokers under FCA regulations for business expansion and compliance.

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What is a Business Broker Listing Agreement?

What sections should be included in a Business Broker Listing Agreement?

What sections are optional to include in a Business Broker Listing Agreement?

What schedules should be included in a Business Broker Listing Agreement?

Authors

Alex Denne

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