This Broker Agreement, hereinafter referred to as “Agreement”, is entered into and made effective as of ____________________ (the “Effective Date”) by and between the following parties ___________________________ hereinafter referred to as “Broker” and _________________________hereinafter referred to as “Client”. Broker and Client may be referred to individually as “Party” and collectively as the “Parties”.
WHEREAS, Client wishes to acquire services of the Broker;
WHEREAS, Broker has the skills, qualifications, and expertise required to provide Services to the Client;
WHEREAS, the Broker will connect the Client with the Service Provider;
NOW, therefore, in consideration of the promises and covenants contained herein, as well as other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), the Parties do hereby agree as follows:
- TERM AND TERMINATION
The Term of this Agreement shall commence on ___________, and shall continue thereafter for 90 days or for as long as the Client contracts the services of Broker. This Agreement may be terminated if the following circumstances occur: Fraudulent information IE, failure to file tax returns, bank statement, PNL “ if borrowers fails to meet under writing conditions within a substantial amount of time”.
- BROKER OBLIGATIONS
The Broker will apply skill and expeditiousness in submitting the Client’s loan application, collecting all necessary client packages and submitting loan to render for approval.
In consideration of the relationship created between the Client and the Broker, the Broker will be compensated a commission of 1% of the loan amount.
- CLIENT OBLIGATIONS
During the provision of the Services, the Client hereby agrees to:
- Cooperate with the Broker for anything the Broker may reasonably require;
- Provide any information and/or documentation needed by the Broker.
- Comply with all applicable laws and regulations that are required for the provision of services.
- FORCE MAJEURE
Neither party shall be liable for failure to perform, nor be deemed to be in default, under this Agreement for any delay or failure in performance resulting from causes beyond its reasonable control, including but not limited to failure of performance by the other party, acts of state or governmental authorities, acts of terrorism, natural catastrophe, fire, storm, flood, earthquake, riot, insurrection, civil disturbance, sabotage, embargo, blockade, acts of war, or power failure. In the event of such delay, the date of delivery or time of completion will be extended by a period of time reasonably necessary to overcome the effect of any such delay.
Broker and Client acknowledge that during the course of the performance of a Project, information of a confidential nature may be disclosed between the parties. Such information, excluding the Deliverables and any other information incident to the Deliverables that a party could reasonably be expected to be provided to the other party as contemplated hereunder, shall be considered confidential information (“Confidential Information”). Neither party has the right to disclose the Confidential Information of the other, in whole or in part, to any third party, and neither party will make use of the Confidential Information of the other for its own or a third party’s benefit or in any way use such Confidential Information other than for the purposes of performance of this Agreement without the prior written consent of the disclosing party.
Each party agrees to take all steps reasonable to protect the other’s Confidential Information from unauthorized use and/or disclosure. The parties agree not to copy in whole or in part, any Confidential Information nor modify the same in any way without prior written consent from the other party. Neither party will be liable to the other for the disclosure of Confidential Information if, as shown by clear and convincing evidence, the Confidential Information: (a) is generally known to the public at the time of disclosure by the disclosing party; or (b) becomes generally known to the public through no fault of the receiving party; or (c) was lawfully in the possession of the receiving party prior to signing this Agreement; or (d) is subject to applicable United States laws or a valid court order requiring disclosure of such Confidential Information.
In any judicial proceeding, it will be presumed that the Confidential Information in question constitutes protectable trade secrets of the disclosing party, and the receiving party shall bear the burden of proving that the Confidential Information was publicly or rightfully known or disclosed.
- GENERAL TERMS
This Broker Contract shall be deemed to have been made, executed and delivered in the State of Texas and shall be construed in accordance with the laws of the State of Texas.
a. DISPUTES. Any disputes arising between the Parties shall be solved in good faith through mediation.
b. NOTICES. Notices to be given by either party under this Agreement shall be sent by certified mail, express overnight delivery, or telecopy to the attention of the other party at the addresses of the parties as first set forth above.
c. SEVERABILITY AND ASSIGNMENT. The invalidity or unenforceability, in whole or in part, of any provision in this Agreement shall not affect in any way the remainder of the provisions herein. This Agreement may not be assigned by Service Provider without Broker’s consent.
d. ENTIRE AGREEMENT. This Agreement, together with any other materials referenced in or expressly made a part of the Agreement, constitutes the final and entire Agreement between Broker Provider and Client and supersedes all prior and contemporary agreements, oral or written.
e. COUNTERPARTS. The Parties hereto agree that facsimile signatures shall be as effective as if originals. This Agreement may be executed via facsimile in any number of counterparts, all of which taken together shall constitute one and the same agreement.
In Witness Whereof, this Agreement is duly executed by the duly authorized representatives of the parties as set forth below:
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