Free Broker to Broker Compensation Agreement Template
Broker to Broker Compensation Agreement
This Broker to Broker Compensation Agreement (hereinafter referred to as the "Agreement") is made and entered into on this 14th day of December, 2064, by and between the following parties:
Parties
First Broker:
Tom Walter
CorpEdge
Laredo, TX 78040
Second Broker:
[YOUR NAME]
[YOUR COMPANY NAME]
[YOUR COMPANY ADDRESS]
Purpose
The purpose of this Agreement is to outline the terms and conditions under which compensation will be shared between the First Broker and the Second Broker for the referral and facilitation of clients within the scope of their brokerage services.
Terms and Conditions
Engagement
The First Broker and the Second Broker hereby agree to engage in a business relationship whereby both parties refer and facilitate clients for each other in exchange for compensation as specified below.
Compensation
The parties agree that the compensation for referred clients shall be as follows:
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For each referred client that results in a closed transaction, the referring broker will receive a commission equal to 30% of the total commission received by the brokerage handling the transaction.
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Payment shall be made within 30 days following the closing of the transaction.
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Both parties agree to maintain detailed records of all referred and closed transactions, including proof of closing.
Confidentiality
Both parties agree to maintain the confidentiality of all proprietary information shared under this Agreement and shall not disclose such information to any third parties without prior written consent, except as required by law.
Term and Termination
This Agreement shall commence on the date listed above and shall continue indefinitely unless terminated by either party with 60 days' written notice. Termination of this Agreement shall not affect the rights to compensation that have accrued prior to termination.
Dispute Resolution
In the event of any dispute arising out of or related to this Agreement, the parties agree to attempt to resolve the dispute through mediation prior to initiating any legal action.
Miscellaneous
This Agreement shall be governed by and construed in accordance with the laws of Texas. This Agreement constitutes the entire agreement between the parties and supersedes any prior agreements or understandings, whether written or oral, relating to its subject matter.
Signatures
IN WITNESS WHEREOF, the parties have executed this Broker to Broker Compensation Agreement on the date set forth below.
Signature of First Broker:
Name: Tom Walter
Date: December 14, 2064
Signature of Second Broker:Name: [YOUR NAME]
Date: December 14, 2064
