This AGENCY AGREEMENT made between (Applying Agent) and CROVATION LIMITED, a limited liability company incorporated under the Laws of the Federal Republic of Nigeria and having its principal place of business at 435-437 Herbert Macaulay Way, Yaba, Lagos State(Developer) on the other Part HEREBY APPOINTS (Agent) in accordance with the terms of this Agreement:
- DUTIES AND RESPONSIBILITIES OF THE AGENT
The Agent shall carry out these following responsibilities:
- Present, promote and sell the products and services of the Developer to prospective clients using generally acceptable Marketing strategies
- Establish, develop and maintain positive business and client relationship
- Liaise with the Developer in order to expedite the resolution of client problems and complaints to maximize satisfaction and continuous patronage
- Analyse chosen territory/market’s potential, track sales and status reports
- Supply the Developer with reports on clients’ needs, problems, interests, competitive activities, and potential for new products and services
- Have comprehensive knowledge of Developer’s company’s policies, best practices and promotional trends.
- To ensure that all financial transactions, such as cheques, cash deposits, bank notes, online transfers, among others are initiated and completed in favour of the Developer.
- The Agent shall for the term of this real estate agency agreement be considered an independent contractor and not an employee of the developer.
- The Agent shall be responsible for all personal and travel expenses incurred during the execution of this real estate agency agreement.
- Any individuals under the Agent’s employment involved in the sale of the property shall be bound by the terms and conditions of this real estate agency agreement.
- The Agent agrees to hold the Developer harmless of any legal costs or judgments that may incur from the negligence of the Agent or any employees related directly to the Agent.
- RENUMERATION AND COMPENSATION
PROVIDED ALWAYS THAT the Agent meets up with the agreed target;
The agreed commission for any sale on land shall be 10% on outright payment, and 5% for house sale. The payment of the commission shall be made within 24hours from the date of client`s payment and where the payment comes in instalment, the commission shall be 7% and 3% respectively, paid in instalments in accordance with the sum paid by the client.
- The Developer shall not be held liable for any client’s fund misappropriated, mishandled or mismanaged by a third party.
- All payments made through cheques, cash deposits, online transfers, standing orders by clients shall be in favor of the Developer.
- The Developer shall not be held liable for cash received or paid directly to the Agent, such deposits become the liability of the client(s) and the Agent except Agent is expressly authorized in writing to receive such cash or deposit on behalf of the Developer and or the written consent of the Developer is sought and obtained.
- The agreed commission for any sale on land shall be 10% on outright payment, and 5% for house sale. The payment of the commission shall be made within 24hours from the date of client`s payment and where the payment comes in instalment, the commission shall be 7% and 3% respectively, paid in instalments in accordance with the sum paid by the client.
- TERMINATION OF AGREEMENT
This Agency Relationship Agreement shall be terminated upon two-week notice duly served on the other party.
No portions of this agreement may be transferred or otherwise delegated without prior written consent between the Parties.
The Agent agrees to keep all information deemed confidential and not necessary for the sale of the property private.
Any needed disclosures of confidential information shall be provided to the Developer for approval prior to such disclosures taking place.
Any information disclosed without the above consideration shall serve as a material breach of contract and will result in termination of this real estate agency agreement in its entirety.
The duty of Agent`s confidentiality shall survive the termination of this agreement.
- ENTIRE AGREEMENT
This real estate agency agreement along with any attached documents shallconstitute the entire agreement between the Parties.
This agreement shall overrule any previous agreements either verbal or written between the parties prior to entering into this Real estate agency agreement.
This real estate agreement may be amended with prior written consent between the Parties.
In the instance of such amendment the amended articles shall not interfere with remaining provisions contained within this agreement.
In the instance of any provisions of this agreement being found unenforceable or illegal the parties will work together to agree on a similar enforceable term.
If any provisions are involved in the above actions all remaining provisions will remain in full effect and shall not be altered or removed.
The Agent shall during the term of this agreement keep the Developer’s best interest at the highest priority.
The Agent shall not partake in any actions for personal gain or that are deemed harmful to the Developer.
- In the event of any difference or dispute arising out of or in connection with this agreement, the parties shall make all efforts to resolve any dispute arising from the agreement amicably
- Any dispute between parties on relation to this agreement which cannot be resolved amicably within 15days shall be referred to arbitration accordance with the Arbitration and Conciliations Act A18 Laws of the Federation of Nigeria 2004 with each party appointing its own arbitrator.