This agreement is made between:
Sellorate (Hong Kong) Co., Ltd.
Address: 20/F, Leighton Centre, 77 Leighton Road, Causeway Bay, Hong Kong
Mr. Sam Smith
Residing at: 11/111 Suukhumvit Soi 59, Klongton-nua Wattana Bangkok 10110
ID Number: 123456790123
Mr. Sam Smith is the current legitimate owner of:
Unit 1111, Good Life Condominium, Rama 4 Road, Klongtoei, Bangkok 10110
Size: 200 sq.m. 3 bedroom, 3 bathrooms + 1 maidroom & half bath
Title Deed No: 1234567890
In this Agreement, unless the context otherwise requires:
“Sellorate” refers to Sellorate (Hong Kong) Co., Ltd.
“Client” refers to Mr. Sam Smith
“Confidential Information” means information consisting of designs, drawings, records, listing, forms, sales material, sales kits, presentation manuals, training material, promotional circulars, printed or typewritten information, all documents or material relating to or owned by Client or Sellorate whether in a tangible or intangible form and which pertain in any manner to subjects which include but are not limited to Clients’S or Sellorate’s business operations systems procedures, activities, or the identity of Clients’s or Sellorate’s customers or the identity of prospective customers or the identity of business entities which are customer habits; or business relationships, or services or financial information; or documents, or any information which has been told is confidential or which might reasonably expect Clients/Sellorate to regards as confidential or any information which has been given to Client or Sellorate in confidence by Client or Sellorate customers, suppliers or any other persons;
“Commission Fee” means the monies to be paid by Client to Sellorate under this agreement;
“Condo Unit” means Unit 1111, Good Life Condominium, Rama 4 Road, Klongtoei, Bangkok 10110
1. Scope of Services
Sellorate’s core primary business is operating as a platform based solution for property owners to engage a salesforce of real estate agents from multiple countries which are in the Sellorate network, and streamline the end to end sales process to be as efficient as possible.
The scope of our marketing services will include the following:
i) To provide marketing for the Condo Unit, which includes notifying Sellorate agents of the project details via various forms of marketing.
ii) To invite the selected real estate agents to market and sell the Condo Unit, and have them complete a digital marketing agreement directly with Sellorate.
iii) To coordinate and ensure completion of the various sales processes for the transaction to be fully completed. iv) To report the sales status to Client when requested.
2. Payment Terms
i) First Payment (Booking Fee) – Buyer to The Client
Up to the desecration of Sellorate. Paid directly to The Clients bank account.
ii) Second Payment (Full Payment) – Buyer to The Client
100% of the total purchase price (deducting booking fee if paid) to be paid directly to The Clients bank account after the completion of Sales Purchase Agreement and transfer of ownership.
iii) Third Payment (Commission) – The Client to Sellorate
3% of the total purchase price to be paid within 7 days from the 2nd payment.
(Sellorate will invoice 100% of the Commission Fee after the purchaser has completed 100% payment and the Sales and Purchase Agreement has been signed and returned to the client and the transfer of ownership completed).
3. Terms of Appointment
i) Sellorate shall be appointed as an Exclusive Marketing Solution for all territories and countries, effective upon the signing and acceptance of the Marketing Agreement.
ii) The Client agrees to allow viewing of the Property by any Sellorate agent at a mutually agreeable time. Sellorate agents can conduct negotiation and submit all offers in relation to the Condo Unit to The Client, and assist The Client in entering into a binding agreement for sale and purchase with a purchaser.
iii) The Client has requested to market The Condo Unit for 30 Million THB which is inclusive of all commission fees.
4. Sellorate Commission Fee
Sellorate commission fee and scope of services are included in the 3% commission which excludes VAT and any international money transfer charges, and transfer of tax duties.
Sellorate will be responsible for paying any other agent fees after the sale is completed.
5. Agent’s Commission
The commission paid to the closing sales agents will be fully determined by Sellorate.
Except for the purpose of the parties hereto obtaining professional advice and except as required by law, this Agreement, the documentation and all information exchanged between the parties in connection with the Agreement shall be kept and maintained in strict confidence.
7. No Partnership Agreement
Nothing herein shall operate or be deemed to create a partnership between the parties hereto and any such intention hereby expressly negated. Neither party hereto shall in any manner hold itself out as having the authority to bind the other.
8. Governing Law
This Agreement shall be construed and have effect subject to and in accordance with the laws of Thailand.
9. Authority to Bind
Where this Agreement is executed by the authorized directors of The Client and Sellorate, the directors hereby warrant and represent to the other party that they have full power and authority to execute this Agreement on behalf of client and Sellorate accordingly.
Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction will be ineffective to the extent of such prohibition or unenforceable but shall not invalidate the remaining provisions of this Agreement or affect such provision in any other jurisdiction.
Both parties have thoroughly read and understood the content hereof, and agree that this digital contract is fully binding.
The Client shall not be held responsible for any misrepresentation by Sellorate, regarding capital appreciation, rental performance, post sales service or the overall financial performance of the Condo Unit.
12. Liability for Client
i) Sellorate is solely responsible for the payment of commission to closing sales agents. The Client shall not be held liable for any commission payments unpaid by Sellorate to the closing sales agents.
ii) The Client shall not be held responsible for any misrepresentation by Sellorate regarding capital appreciation, rental performance, post sales service or the overall financial performance of the Condo Unit.
ii) Sellorate shall not be held liable should the marketing material provided by Client not be representative of the unit.
iii) Sellorate shall not be held liable in any way for purchasers who do not complete full transfer payment or ownership transfer of a unit.
iv) During the term of this agreement, Sellorate shall bear its own taxes. Sellorate shall be responsible for withholding of taxes required by the authorities, if any.
13. Liability for Sellorate
i) Sellorate shall not be held responsible for any misrepresentation by agents regarding capital appreciation, rental performance, post sales service or the overall financial performance of the Condo Unit.
The developer shall not engage directly with any new agents or agencies that have been introduced by Sellorate. This non-compete period will last for 6 months from the date of the first marketing agreement with that agent or agency.
EXECUTED BY THE PARTIES:
SIGNED for and on behalf of