The Head Agent, Phuket Property Network Co., Ltd. (The “Head Agent”)
WHEREAS
- The Head Agent has available a portfolio of private owned Phuket properties, to which an exclusive agency agreement is in place with the legal owners. (The “Property”)
- The Agent enters into this Agency Agreement with the Head Agent as the Agent wishes to be appointed by the Head Agent as a non-exclusive introducer to find buyers for the Property.
IT IS AGREED AS FOLLOWS:
- TERM OF THE AGREEMENT
The terms of the Agreement shall be from the date of the Agreement for at least a period of 12 months. The agreement will continue to renew in perpetually, until 30 days written notice is served by either party.
- HEAD AGENT’S OBLIGATIONS
The Head Agent shall during the continuance of the Agreement, for any Agent:
- Permit at a time convenient to the Agent, its staff, or its representative(s) to take prospective buyers to see the Property.
- Provide the Agent with brochures, marketing materials printed and/or digital and all necessary information relevant to the sale of the Property by the Agent.
- Send regular updates of the Property to the Agent.
- Ready/Stage the Property for a viewing inspection.
- Provide an expert at the Property throughout the clients’ viewing, at hand to explain the property’s various features, benefits, and advantages.
- Provide the Agent with total client support throughout the sales process.
- Advise the Agent when any Property is sold or has any fundamental changes to details including sales price.
- AGENT’S RIGHTS AND OBLIGATIONS
The Agent shall during the continuance of the Agreement:
- a) Offer the Property to prospective buyers at the prices set out or notified by the Head Agent from time to time and the Agent shall ensure that the prices and Property details are correct and accurate by consulting with the Head Agent prior to absolute confirmation with a prospective purchaser.
- b) Offer the Property for sale only under the terms of the Agreement.
- c) Be wholly responsible for any costs or expenses incurred by the Agent in finding buyers for the Property and facilitating the signing of purchase or lease agreements by the buyer.
- d) Be entitled to place details of the Property including but not limited to brochures or marketing materials on the Agent’s website, social media, and all other marketing channels in place.
- e) Act in a professional manner consistent with professional and international standards of a real estate agency and accompany client on initial site visit and upon signing the reservation agreement.
- f) Register clients via e-mail, message, printed or hand-written registration, (verbal registrations will not be accepted)
- g) Client registrations are not universal and should be made against each specific Property, within the portfolio.
- COMMISSION AND PAYMENT
The Agent shall procure and make the necessary arrangements with the Head Agent who shall be obliged to pay the Agent the percentage commission as previously indicated.The Agent must accompany their client on initial visits to the site and during the signing of the reservation agreement to be eligible for a commission claim (“Standard Agency Commission”).
The commission will be paid in full within 15 days of receipt of the commission paid from the Purchaser or Lessor.
- DEFAULT AND TERMINATION
On the expiry of its term as provided herein.
Each party shall be entitled to terminate the Agreement at any time by giving 30 days’ notice in writing to the other party.
- MISCELLANEOUS
- a) The Agent shall not disclose confidential information relating to the Head Agent, or the legal property owners.
- b) The Agent shall not be held liable for, or in, any dispute between the Company and the buyers.
- c) Without prior written consent from the Head Agent, the Agent shall not be entitled to assign the rights and obligations accrued under the Agreement to third party or third parties).
- d) No amendment to the Agreement shall be recognized unless that amendment is made in writing and signed by both parties.
- e) The Agent agrees to keep all information concerning the Head Agent’s clients confidential. All information received from Head Agent is to be used to the advantage of promoting and selling the Property
- h) In the event of a dispute regarding the Agreement, all parties shall resolve the dispute professionally and in good faith.
Should the dispute remain unresolved, all disputes arising in connection with the transaction contemplated hereby shall be settled by arbitration in Thailand in accordance with the Thai Commercial Arbitration Rules in force at the time the disagreement or dispute arose. The place of arbitration shall be Phuket, Thailand, and the governing law shall be Thai law. The arbitration proceedings shall be conducted in English.