NON-CIRCUMVENTION, NON-DISCLOSURE AND COMMISSION AGREEMENT
This agreement is made and entered into on This day by and between:
Parties Involved
- Broker / Intermediary: M/s. Hosur all property .com, having its office at No.2 Spring Dale, Royakottai Main Road, Near Hosur Public School, Hosur, hereinafter referred to as the “Broker”.
- Disclosing Party / Buyer / Owner / Tenant / Client: the person whose details are filled in this application, hereinafter referred to as the “Client”.
1. Purpose
The Broker has agreed to introduce certain prospective buyers / sellers / tenants, or properties or projects, to the Client for the purpose of a real estate transaction. The parties wish to formalize their working relationship and protect the Broker’s rightful commission and proprietary contacts.
2. Non-Circumvention
The Client agrees that, for a period of 2 (two) year from the date of this Agreement, the Client shall not directly or indirectly contact, deal with or otherwise enter into any business transaction with the buyers, sellers or properties introduced by the Broker without the prior written consent of the Broker.
3. Non-Disclosure
The parties agree to keep confidential the identities of the contacts, property details and all financial or property information shared during the course of negotiations.
4. Commission Structure
In the event that a transaction, lease, rent or sale is concluded with any party or property introduced by the Broker, the Client agrees to irrevocably pay the Broker a commission as follows:
- Sale: 2% fixed of the total transaction sale value (including sales above 1 crore – 2% fixed).
- Rental: 1 month’s rent; for rental agreements above 3 years, 2 months’ rent.
- Lease: 2%.
Payment shall be made by bank transfer / cash / cheque / UPI (as agreed) before the date of execution of the sale deed, lease deed or rental deed.
5. Governing Law and Dispute Resolution
This Agreement shall be governed by and construed in accordance with the laws of India. Any dispute arising out of or in connection with this Agreement shall be resolved through binding arbitration in Hosur, in accordance with the Arbitration and Conciliation Act, 1996.
6. Bypassing the Broker
Even if the Client, buyer or investor, whether an individual or a company, bypasses the Broker and directly purchases and registers the specific land or property from the owner introduced by that Broker (thereby violating the agreement, trust and established norms), they are legally obligated to pay the Broker the due commission, in accordance with this agreement.
The Client / buyer must understand that taking this matter to court would result in an obligation to pay compensation for mental distress in addition to court expenses.
End of agreement