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Boat Brokerage Agreement Template
Posted by on Monday, December 13th, 2021 at 9:17 am
A boat brokerage agreement template is a legal document that outlines the terms and conditions between a boat owner and a boat broker in regards to the sale of a boat. This agreement allows the owner to sell their boat through the broker while ensuring that both parties are protected legally.
If you are thinking of selling your boat, it is recommended that you work with a boat broker who will help you find a buyer and ensure that the sale is handled professionally. However, before you sign a brokerage agreement, it is important that you know what to expect and what to look for to ensure that your interests are protected.
Here are some key points that you should look for when reviewing a boat brokerage agreement template:
1. The Listing Price: The agreement should clearly state the listing price of the boat, the commission that the broker will receive, and any other fees that may be involved in the sale.
2. Exclusive or Non-Exclusive: The agreement should specify whether the contract is exclusive or non-exclusive. An exclusive agreement means that the boat owner cannot work with any other brokers during the contract period, while a non-exclusive agreement allows the owner to work with multiple brokers.
3. Responsibilities of the Broker: The agreement should outline the responsibilities of the broker, such as advertising the boat, showing the boat to potential buyers, and handling all negotiations and paperwork.
4. Term of the Contract: The agreement should specify the length of the contract, and whether it can be renewed or extended.
5. Termination Clause: The agreement should include a termination clause that outlines the conditions under which either party can terminate the contract.
6. Representations and Warranties: The agreement should state that the boat owner is the legal owner of the boat and has the right to sell it. It should also specify any defects or issues with the boat that the owner is aware of.
7. Indemnification: The agreement should include a clause that indemnifies the boat owner against any claims or damages that may arise from the sale of the boat.
In conclusion, having a boat brokerage agreement template in place is essential to ensure that the boat owner and broker are on the same page, and that the sale of the boat is handled professionally and legally. By reviewing the agreement carefully and ensuring that all key points are included, you can protect your interests and ensure a successful sale.
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