
A good exclusive brokerage agreement template can be a great tool for making sure that the right terms are written into the agreement and the best possible terms are set forth. The fact is, when it comes to an exclusive arrangement, you want to have the most benefits from the contract possible.
For exclusive brokerages, it’s important to make sure that all parties involved in the transaction understand the terms of the agreement before signing the document. When the parties aren’t completely satisfied with the document, it can be difficult to negotiate any changes later down the road.
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If you aren’t familiar with exclusivity agreements, there is no reason to panic. They are not complicated documents and anyone who had dealt with them in the past will easily be able to fill it out. Just keep in mind that some exclusivity agreements may be more specific than others.
Generally, an exclusivity agreement should state if the transaction is done with a single financial institution or with several banks or with a specific entity. You can find these types of exclusivity agreements in the form of an exclusive brokerage agreement. For example, in a bank exclusivity agreement, the banks may not allow the brokers of the brokerage to enter into transactions with other institutions or banks that the banks do business with.
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You can also find exclusivity agreements that are more generalized in nature. For example, a broker may be prohibited from engaging in transactions with a specific company or entity for a certain period of time, such as three or more years. This type of exclusivity agreement can be used if you want to protect yourself if you have a business relationship with someone who might do business with you but won’t do business with you if you don’t offer them the protection afforded by an exclusive agreement.
In many cases, when there are multiple banks involved, an exclusivity agreement can be written in conjunction with one of the lenders and the broker. If a customer has a relationship with a particular bank, it may be advantageous for the customer to include this specific bank in the exclusivity agreement. If the customer doesn’t have a relationship with the bank directly, then an exclusivity agreement can be written specifically with the bank that the customer works with.
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Another form of exclusivity agreements can be drawn up between the client and the agent. These are typically used between two brokers who work together. It would allow the brokers to maintain a tight relationship with the clients and the bank so that they are aware of the exact details of the client’s financial situation. This is often seen as a beneficial way to prevent the broker from doing business with a potential client until they have signed a separate exclusive agreement.
Whether you are looking to protect yourself from being cheated or you are looking to protect the interests of a customer, an exclusivity agreement can be a valuable tool. If you are the client, you may even find it to be beneficial to have a template that covers every contingency of the transaction, as well as other parts of the agreement. If you are the broker, you should be sure to keep copies of the exclusivity agreement for yourself as well as the client and both you and the client’s attorney.
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Once the exclusivity agreement template has been drafted, you will need to get your copy into the hands of a lawyer to review it for any problems. The lawyer will look over the exclusivity agreement in its entirety to ensure that all of the terms of the agreement are in order. A contract review is important to make sure that the exclusivity agreement covers all possible scenarios and clauses and that all parties have been protected.
When the exclusivity agreement is reviewed by your attorney, the attorney will be able to provide you with suggestions to help protect your interests as a client. In addition to giving you advice, the attorney will also be able to review the exclusivity agreement with you to make sure that the terms are in line with the law.
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Many exclusivity agreements are open ended, meaning that they can be modified at any time. They can also vary in terms of the time period that they cover and the amount of protection they provide for you as a client. It is important to ensure that your exclusivity agreement is written in a manner that makes sense to you as a client and gives you the protection that you need.