Q: Broker Agreement Question
I'm working to find buyers for a supplier of goods. I want to receive a commission for each sale that ever happens between the buyer and the supplier. What is the best way for me to achieve this? What kind of agreement should I use? Where can I find a template I can use? (I'm an independent individual. I'm not employed by any company.)
A:
As an independent broker facilitating sales between a supplier and buyers, you should consider using a "Commission Agreement" or "Finder's Fee Agreement." This type of agreement outlines the terms of your relationship with the supplier, including the commission percentage you will receive for each sale and the duration of the agreement.
Here are some key points to include in your agreement:
1. Parties involved: Clearly identify yourself and the supplier.
2. Commission rate: Specify the percentage of each sale you will receive as a commission.
3. Payment terms: Outline when and how you will receive your commissions.
4. Duration of the agreement: Indicate how long the agreement will remain in effect.
5. Exclusivity: Clarify whether you have exclusive rights to broker deals for the supplier.
6. Confidentiality: Include a clause to protect confidential information shared during the business relationship.
7. Termination: Specify under what conditions either party can terminate the agreement and any notice required.
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