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This Agreement made by and between:
SUMMIT INTERNATIONAL REALTY, of St. Maarten, Netherlands Antilles (“Summit”), and
NEW YORK AFFILIATE, (“Affiliate”)
sets out the terms and conditions under which the parties shall participate in the
joint listing, marketing and sale or lease of residential, commercial and investment
real estate, worldwide (“the Property”). This Agreement is further governed by the
Terms & Conditions and Privacy Policy outlined in each Party’s website except as to
the rights of each Party to download, copy, distribute, publicly display and
otherwise use materials from their respective websites for the sole purpose of
marketing the real property, which right is expressly granted. This Agreement shall
continue in force, until the time that both Parties agree in writing to the
termination of this Agreement.
1. DEFINITIONS AND INTERPRETATIONS: For the purposes of this Co-Listing
Agreement (“Authority” or “Agreement”), “Seller” includes vendor and landlord and a
“Buyer” includes purchaser, a tenant, or a prospective purchaser or tenant. A
purchase shall be deemed to include the entering into of any agreement to exchange,
or the obtaining of an option to purchase, which is subsequently exercised, and a
lease includes any rental agreement, sub-lease or renewal of a lease. For purposes
of this Agreement, anyone introduced or shown the property, shall be deemed to
include any spouse, heirs, executors, administrators, successors, assigns, related
corporations and affiliated corporations. Related corporations and affiliated
corporations shall include any corporation where one half or a majority of the
shareholders, directors or officers of the related or affiliated corporation are the
same person(s) as the shareholders, directors or officers of the corporation
introduced or shown the property. For purposes of this Agreement, Listing Broker
shall be the Party having executed a valid and enforceable Listing Agreement with
the Seller and Selling Broker shall be the Party having executed a valid and
enforceable Purchase and Sale Agreement with a Buyer.
2. SEVERANCE: Neither party shall be held responsible or liable for the
misrepresentations, frauds, or negligence of the other party. In the event of
litigation relating to specific wrongdoing of one of the parties, all liability and
payment of damages for such wrongdoing shall become the full responsibility of the
guilty party.
3. COMMISSION: In consideration of the mutual intent of the Parties to
co-list the Property, the Parties hereby agree to pay a commission or referral fee
for any valid offer to purchase or lease the Property obtained on behalf of the
other party during the Listing Period and on the terms and conditions set out in
this Agreement OR such other terms and conditions as they might accept. The
commission or referral fee as described below shall be payable on the date set for
completion of the purchase of the Property or, in the case of a lease or tenancy,
the earlier of the date of occupancy by the tenant or the execution of the lease or
the date set for commencement of the lease or tenancy. Any deposit in respect of any
agreement where the transaction has been completed shall first be applied to reduce
the commission payable.
4. COMMISSION SCHEDULE: The Co-Listing Agreement contemplates that referral
activity will typically involve the Moscow Affiliate referring to the New York
Affiliate and the New York Affiliate referring to the St. Maarten Affiliate. The
Commission Schedule is therefore premised on this multi-directional activity.
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Referring Affiliate
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Recipient Affiliate
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Commission Payable
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Moscow
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New York
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2.5%
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New York
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St. Maarten
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2.5%
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5. DUTIES: Both parties shall use their best efforts to effectively market
the property, and shall adhere to the marketing plan (if any) presented to the
Seller.
6. MARKETING: The Listing Broker warrants that subject to an executed
Listing Agreement, Seller has granted sole and exclusive authority to make all
advertising decisions relating to the Property during the Listing Period. Neither
Party will be held liable in any manner whatsoever for any acts or omissions with
respect to advertising by any other Party, other than by that Party’s gross
negligence or willful act.
7. FINDERS FEES: The Selling Broker acknowledges that if a new mortgage or
an increase in financing is required for the completion of a sale, the Listing
Broker may receive a finder’s fee and consents to any such fee being retained by
the Listing Broker in addition to the commission earned.
8. CONFLICT OR DISCREPENCY: If there is conflict or discrepancy between any
provisions added to this Agreement (including any Schedule attached hereto) and any
provision in the standard pre-set portion of ancillary agreements, the added
provision shall supersede the standard pre-set provision to the extent of such
conflict or discrepancy. This Agreement including any Schedule attached hereto shall
constitute the entire Authority between the Parties. There is no representation,
warranty, collateral agreement or condition, which affects this Agreement other than
as expressed herein. This Agreement shall be read with all changes of gender or
number as required by the context.
9. ELECTRONIC COMMUNICATION: This Agreement and any agreements, notices or
other communications contemplated thereby may be transmitted by means of electronic
systems, in which case signatures shall be deemed to be original. The transmission
of this Agreement by the Parties by electronic means shall be deemed to confirm the
each have retained a true copy of the Agreement.
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Accepted on behalf of Summit International Realty
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Date:
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Tony Cabeceira
Managing Director
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Accepted on behalf of NEW YORK AFFILIATE, (“Affiliate”)
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Date:
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