The Broker Referral Agreement is essential for formalizing referral arrangements between brokers in Singapore's regulated environment. This document is particularly important when brokers wish to establish ongoing referral relationships while ensuring compliance with Singapore's Estate Agents Act and CEA guidelines. The agreement covers crucial aspects such as commission sharing, confidentiality, data protection, and professional obligations. It provides a clear framework for managing referrals while protecting both parties' interests and ensuring regulatory compliance.
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1. Parties: Identification and details of the referring and receiving brokers
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement including 'Referral', 'Commission', 'Territory'
4. Scope of Services: Details of referral services and obligations between the parties
5. Commission Structure: Payment terms, commission calculations, and payment timing
6. Confidentiality: Confidentiality obligations and restrictions on information sharing
7. Term and Termination: Duration of agreement and circumstances for termination
8. Governing Law: Specification of Singapore law as governing law and jurisdiction
1. Non-Compete: Restrictions on competitive activities within specified markets or territories
2. Insurance: Requirements for professional indemnity and other relevant insurance coverage
3. Marketing Requirements: Specific marketing obligations and restrictions for referral activities
4. Training Requirements: Training obligations and standards for handling referrals
1. Commission Schedule: Detailed breakdown of commission calculations and payment scenarios
2. Referral Process: Detailed step-by-step process for handling and managing referrals
3. Contact Details: Key contact information and escalation matrix for both parties
4. Service Level Agreement: Specific service standards, response times, and performance metrics
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