TRANSACTION COORDINATOR AGREEMENT
This Transaction Coordinator Agreement (the “Agreement”) is made as of the 17 September 2024 between:
(1) PARTY_1_NAME (the “Agent”), a company and registered address at PARTY_1_ADDRESS_SINGLE_LINE; and
(2) PARTY_2_NAME (the “Transaction Coordinator”), a national with domiciled address at PARTY_2_ADDRESS_SINGLE_LINE
(individually a “Party” and collectively the “Parties”).
Background
A. The Agent is a real estate agent/broker engaged in the business of buying, selling, and marketing real estate properties.
B. The Transaction Coordinator specializes in providing transaction coordination services such as administrative support services to real estate professionals.
C. The Agent desires to hire the services of the Transaction Coordinator for processing of the real estate transactioin accordance with the terms and conditions of this Agreement.
1. Services to be performed.
(a) The Transaction Coordinator shall provide the following services to the Agent: transaction coordination services and any ancillary services incidental thereto as more particularly described in Schedule 1 hereto (together, the “Services”).
(b) The Parties may agree to additional services to be provided by the Transaction Coordinator to the Agent by agreement in writing.
(c) The Transaction Coordinator shall perform the Services as an independent contractor on a non-exclusive basis, and, unless stated explicitly, nothing contained herein shall be deemed to create any partnership, joint venture, or relationship of principal and agent between the Parties hereto or any of the Agent’s affiliates or subsidiaries.
(d) The Transaction Coordinator agrees to participate in and report to the Agent on performance review to be conducted on a regular basis as reasonably required by the Agent.
(e) The Transaction Coordinator shall render the Services with reasonable care and use its reasonable endeavours to ensure that the Services provided shall be reasonably satisfactory to the Agent.
(f) The Transaction Coordinator is providing coordination services to complete the real estate transaction and in no event acting as an agent of any parties engaged in the transaction such as the buyer or seller in case of sale of property transaction, and therefore owes no fiduciary duty to either of the said parties.
2. Term of Agreement
(a) The Services by the Transaction Coordinator to the Agent shall be completed in its entirety by SERVICES_COMPLETION_DATE.
(b) Subject to paragraph (c) of Clause 9 (Confidentiality), this Agreement shall terminate on the date falling one year after the date of this Agreement.
3. Fees and Expenses.
In consideration of the provision of the Services, the Agent shall pay to the Transaction Coordinator CURRENCYCONTRACTOR_FEES in fees in such payment method and disbursement schedule as mutually agreed by the Parties. The Transaction Coordinator shall be solely responsible for any and all taxes applicable to such fees.
4. Compliance with Laws.
(a) Each Party hereto agrees that it shall comply with all applicable laws, ordinances, codes and regulations in the performance of its obligations or receipt of Services under this Agreement. If at any time during the term of this Agreement, either the Transaction Coordinator or the Agent is informed or information comes to its attention that it is or may be in violation of any law, ordinance or code (or if it is so determined by any court, tribunal or other authority), that Party shall immediately take all appropriate steps to remedy such violation and comply with such law, regulation, ordinance or code in all respects. Further, each Party hereto shall establish and maintain all proper records (particularly, but without limitation, accounting records) required by any law, code of practice or corporate policy applicable to it from time to time.
(b) The Transaction Coordinator shall report to the Agent if there is any material change in the Services or any material problems, incidents, accidents or disruption which has a material impact on the Services.
(c) The Transaction Coordinator shall obtain and maintain the licences, permits, consents and approvals necessary for it to provide the Services under this Agreement.
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