Finders Fee Agreement Form With Client

• Category: Real Estate - Contracts
• State: Multi-State
• Control #: US-0154BG
• Format: Word; Rich Text

Description Finders Fee

In a real estate context, a finder's fee may be paid for locating property, obtaining mortgage financing. or referring sellers or buyers. A finder's fee is money paid to a person for finding someone interested in selling or buying property. To conduct any negotiations of sale terms, the finder may be required to be a licensed broker or he violates the law. However, state laws, which vary by state, may also provide an exemption for certain individuals, allowing them to be compensated without the necessity of licensure. For example, one state's law allows an exemption for either a property management firm or an owner of an apartment complex to pay a finder’s fee or referral of up to $50 to a current tenant for referring a new tenant. The fee can be in the form of cash, a rental reduction or some other thing of value. The party claiming compensation under this exemption is not allowed to advertise for prospective tenants. A Finders Fee Agreement Form with a client is a legally binding document that outlines the terms and conditions under which a finder's fee will be paid to an individual or company (referred to as the "finder" or "referrer") for introducing a client to a specific business or opportunity. This agreement is commonly used in various industries such as real estate, finance, and consulting, where finding potential clients or business leads is crucial. The Finders Fee Agreement Form with a client typically includes the following key elements: 1. Parties Involved: This section identifies the names and addresses of both the finder and the client. It is essential to accurately mention the legal entities or individuals involved in the agreement. 2. Purpose: The purpose section explains the nature of the relationship between the finder and the client. It clarifies that the finder's role is to locate potential clients, and the client agrees to compensate the finder for successful introductions. 3. Fees: This section outlines the finder's fee structure, including the percentage or amount the finder will receive upon the successful completion of a transaction or engagement. It is important to specify the agreed-upon compensation clearly. 4. Scope of Services: The scope of services section describes the specific duties and responsibilities of the finder. It may include activities such as prospect research, lead generation, or providing consultation services to the client. 5. Exclusivity: This section defines whether the agreement grants the finder exclusivity. If the client expects the finder to work exclusively for them, it should be explicitly stated in this part of the agreement. 6. Confidentiality: A clause regarding confidentiality is often included to protect sensitive information shared between the finder and the client during the course of their relationship. This ensures that any proprietary or confidential information is treated as such. 7. Term and Termination: This section specifies the duration of the agreement and the circumstances under which it can be terminated by either party. It may include provisions for termination due to breach of contract, non-performance, or completion of the agreed-upon project. Different types of Finders Fee Agreement Forms with clients may vary depending on the industry and specific requirements. For instance, in real estate, there could be a separate agreement for finding buyers and another for finding sellers. In finance, there might be different agreements for introducing investors or potential business partners. In summary, a Finders Fee Agreement Form with a client establishes a legal framework for compensating finders or referrers who successfully introduce clients to a business or opportunity. The form defines the parties involved, outlines the fee structure, describes the scope of services, and includes provisions for confidentiality, exclusivity, termination, and other important aspects of the agreement.

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