The Co-Broker Agreement is essential for structuring formal partnerships between brokerage entities operating in Saudi Arabia. This document is typically used when two or more licensed brokers wish to collaborate on transactions, share clients, or jointly operate in specific territories. The agreement must comply with Saudi Arabian commercial law, SAMA regulations, and Sharia principles, making it distinct from conventional brokerage agreements in other jurisdictions. It addresses crucial aspects such as commission splits, territorial rights, client ownership, confidentiality, and regulatory compliance. The document is particularly important in the context of Saudi Arabia's evolving commercial landscape, where proper documentation of business relationships and compliance with local regulations is paramount.
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1. Parties: Identification of the co-brokers entering into the agreement, including their legal status and registration details
2. Background: Context of the agreement and general business relationship between the parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Cooperation: Detailed description of the co-broking arrangement and services to be provided by each party
5. Territory and Exclusivity: Geographic areas covered and any exclusive rights granted
6. Commission Structure: Details of commission splits, calculation methods, and payment terms
7. Rights and Obligations: Specific duties and responsibilities of each party
8. Compliance Requirements: Obligations regarding Saudi laws, regulations, and Sharia compliance
9. Confidentiality: Protection of confidential information and trade secrets
10. Term and Termination: Duration of agreement and circumstances for termination
11. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and applicable law
12. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment
1. International Operations: Additional provisions for cross-border activities, used when either party operates internationally
2. Specific Asset Classes: Special provisions for particular types of assets being brokered (e.g., real estate, securities)
3. Marketing and Branding: Guidelines for co-branded marketing activities, if joint marketing is planned
4. Training and Support: Provisions for inter-company training and support services, if applicable
5. Data Protection: Specific data handling requirements, particularly important for international operations
6. Insurance Requirements: Specific insurance obligations beyond standard requirements
7. Electronic Communications: Provisions for digital platforms and electronic dealings
8. Force Majeure: Specific provisions for unforeseen circumstances affecting performance
1. Commission Calculation Schedule: Detailed breakdown of commission structures and calculation methods
2. Service Level Agreement: Specific performance metrics and service standards
3. Compliance Procedures: Detailed procedures for ensuring regulatory compliance
4. Contact Details: Key personnel and contact information for both parties
5. Required Documentation: List of documents required for various transactions
6. Territory Map: Detailed description or map of covered geographic areas
7. Marketing Guidelines: Specific rules and procedures for joint marketing efforts
8. Professional Qualifications: Required certifications and qualifications for brokers
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Financial Services
Insurance
Investment Banking
Commercial Property
Securities Trading
Asset Management
Islamic Finance
Relevant Teams
Legal
Compliance
Business Development
Operations
Sales
Risk Management
Partner Relations
Islamic Finance
Corporate Affairs
Relevant Roles
Broker
Business Development Manager
Compliance Officer
Legal Counsel
Operations Manager
Partnership Manager
Regional Director
Sales Director
Chief Executive Officer
Chief Operating Officer
Relationship Manager
Risk Manager
Sharia Compliance Officer
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