This Broker Agreement (the “Agreement”) is made as of the 21 April 2021 between:
(1) PARTY_1_NAME whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the "Company")
(2) PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the "Broker")
(A) The Company is in the business of selling PRODUCTS("Products")
(B) Both Parties wish to enter into this Agreement, whereby the Company engages the services of the Broker to identify and introduce prospective clients for the sale of Products ("Client") in exchange for a commission in accordance with the terms and conditions of this Agreement. ("Service")
NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Agreement, the Broker and Company agree as follows:
1. Scope of Services
The Broker hereby agrees to use commercially reasonable efforts to identify and introduce new prospective Clients to the Company. All Clients shall be identified in writing by the Broker to the Company. In carrying out the Services, the Broker shall utilize its best efforts to identify opportunities, facilitate introductions and communications with potential Clients, exchange information and arrange meetings between the Company and such potential Clients.
The Broker shall not be deemed to have discovered any clients and shall not be entitled to receive a commission (as described below) for clients:
(a) who contacted or were contacted by the Company on or before the Effective Date of this Agreement; or
(b) any clients who hereafter contact or are contacted by the Company, after the Effective Date, before being identified and introduced in writing by the Broker to the Company.
(a) The Company shall pay the Broker a commission of COMMISSION_PERCENTAGE per cent of the Sale Price for every Product sold by the Company as a direct result of an introduction by the Broker.
“Sale Price” is the net value of the Product sold to the Client and which has been paid in full to the Company by that Client.