Professional Documents
Culture Documents
And
CLIENT and REALS shall hereinafter be jointly referred to as the “Parties” and
severally as the “Party”.
1. Term Of Appointment
The term of this appointment shall be for 365 days unless terminated earlier
by either party. Either party may terminate this Agreement, without
prejudice, by delivering to the other party 30 days prior written notice at
their respective principle places of business. However both parties shall not
have the right to terminate this agreement till a period of six months from the
date of making an Advance Payment / Part Payment which shall be the lock in
period.
2. REALS Services
REALS shall represent the CLIENT for the purpose of sourcing and
securing suitable Lands for the said purpose.
REALS shall not be liable to obtain legal, tax or other professional advice
relating to this Agreement and the proposed license or purchase of any
property, as well as the condition and /or legality of any property.
3. The Fees
2%gross sale value + Service Tax, which shall accrue and be due and
payable upon execution of Sale Deed
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The aforesaid fees shall at all times be non refundable. The CLIENT shall pay
fees within seven days of receipt of invoice raised by REALS. In the event, the
CLIENT delays the payment of the fees to REALS beyond such seven days,
CLIENT shall be liable to pay interest @ 18% per annum on the amount due
to REALS.
4. Broker Recognition
The CLIENT agrees to recognize REALS as its broker in connection with all
prospective LandLords introduced to the CLIENT by REALS during the term
of this Agreement. In the event such prospective LandLords have already
been introduced to the CLIENT, the CLIENT shall intimate REALS of such
prior existence, within 2 days of introduction by REALS. However, if the
CLIENT fails to intimate REALS of such existence within the said 2 days,
such prospective LandLord shall be deemed to be introduced by REALS. The
CLIENT agrees that if the CLIENT enters into any transaction in connection
with such LandLords, introduced by REALS, after termination of this
Agreement, CLIENT shall be liable to pay fees to REALS in accordance with
the clause 3 of this Agreement.
5. Client Referrals
The CLIENT shall refer to REALS all inquiries and offerings received by the
CLIENT from other sources (landlords/ developers/ real estate agents/
service providers) regarding the Lease/ License/Sale of properties, and all
negotiations for the same shall be conducted by REALS or under REALS’s
direction, subject to the CLIENT’s review and final approval.
6. Authority
The CLIENT represents that it has the authority to enter and sign this
Agreement. The individuals signing this Agreement represent that they are
authorized signatories.
7. Limitation of liability
REALS's total aggregate liability to the client including that of any third party
claims, in contract, tort including negligence or breach of statutory duty,
misrepresentation, restitution or otherwise, arising in connection with the
performance or contemplated performance of the services shall be limited to
an aggregate sum not exceeding the total fees paid for each instructions
accepted. REALS shall not be liable for any pure economic loss, loss of profit,
loss of business, depletion of goodwill, in each case whether direct or indirect
or consequential or any claims for consequential loss compensation
whatsoever which, arise out of or in connection with services provided under
this engagement.
8. Governing Law
All disputes, claims and questions whatsoever which shall arise either during
the continuance of this agreement or afterwards between the Parties shall be
governed by the laws of India and subject to exclusive jurisdiction of Courts
in Chennai, India.
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–------------------------------------. REAL Estate Advisory And
Liasoning Services
Signature:
______________________________ Signature:
______________________________
Name: _________________________________
Name:
________________________________
Designation:
____________________________
Designation:
Date: _________________________________ ___________________________
Date:
_________________________________
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