Our Terms and Conditions
TERMS AND CONDITIONS FOR OFFICIAL COMPANY BROKERS/AGENT IN YOUR DESIGNATED AREA.
Rest Assured Property Investments is a real estate company designed to collaborate with different stakeholder in their respective capacities to enable smooth and timely service delivery to its customer across the country and abroad. In Uganda we buy and sale land property in different area and we believe when we work with a number of agents/brokers who have vast knowledge about the property in their areas will enable the company to acquire property easily and the agent will act our entry point to get a desired property.
Below are the terms and condition that apply to work as our official Agent/ broker;
Whereas An agent / broker wishes to collaborate with Rest assured property investments ltd in outsourcing AND Selling real estate properties, the qualified person(s) shall meet the following terms;
- The Broker/ Agent will be required to register with the company through the company web portal and accept the terms and conditions herein attached.
- The Agent WILL meet Standard marketing practices which involves a strategic customer-centric approach to identifying, creating and delivery of value based on product, price, place, promotion and physical evidence.
- The Agent should have a strong bond in his area of operation, working closely with local leaders and without fraudulent records in land and related matters.
- The Agent should have good communication skills, honesty and have vast knowledge of land and related matters.
- The agent will refers potential clients to the company that are interested in selling off or purchasing real estate.
- The agent will offer presentation, property consultation service provision of informational material from the seller to the company that will help the company to close deals easily.
- Rest assured property investment will provide expertise services and required property description to the Agent before engaging the seller.
NOW, THEREFORE, the Parties agree as follows:
- Introduction of Clients. The Agent will introduce clients to Rest assured property investments that are interested in investing or selling their land or houses. The Agent will use its best efforts to refer qualified and interested clients to the company.
- Services provided by the company. The company agrees to provide comprehensive advisory services, including, but not limited to:
- Conducting presentation to introduce the project to the potential investor(s);
- Arranging for and receiving the client, once the booking is made.
- Available in-person viewing and consultation by the clients.
- Closing the sale and assist in after sale service when needed.
- Payment of Commission . The company will receive commission from the seller, upon, the completion of a closed sale which means. The company & Broker will sign commission agreement. Commission payment will be instant upon closing the deal or can take from 30 days to 90 days, depending on the buyer and seller terms.
- Payment Terms. The Commission received by the Agent/ broker from the property sale usually averages in the range between 4% to 10% however, company must disclose each of the commission amounts in every transaction to the Agent and shall do so in an open and transparent manner. Commission on a closed sale will be shared fairly between the Agent 40%and the company 60%. The company agrees to pay the Agent 40% share of the Commission within ten (10) business days of receiving the total Commission from the seller in their bank account. Payment will be made via bank transfer to the AGENT’S Account provided. The Agent is responsible for issuing an invoice prior to the release of the 40% commission. Should the Company fail to receive payment from the seller, the Agent will not be entitled to its commission share until the funds are received.
- Confidentiality. Both parties agree that all terms, conditions, and information shared during this Agreement must be kept confidential. Neither party shall disclose or use the other party's information for promotional or marketing purposes without prior written consent. The Agent will introduce the buyer/seller to the company in confidence and the company will respect the relation of the Agent. This confidentiality obligation extends for six (6) months with potential buyer and one (1) year with confirmed buyer that purchase a property or after the termination of this Agreement. The Agent is equally responsible to not contact or communicate or try to conclude a sale directly with the buyer that was introduced to the company.
- Advertisement. The company is responsible to follow the parameters set to market partners properties. The Agent is also obligated to adhere to the marketing guidelines. The marketing material will be shared by the company, and any other marketing material or design should be approved by the company. If a project is sold out, the company will notify the Agent so as they do not spend any more time on marketing such projects. The company is responsible to replace a sold out project with a similar replacement project to satisfy the buyers requirements.
- Indemnity. Each party agrees to indemnify and hold harmless the other party from any claims, damages, liabilities, or losses that arise out of the performance of this Agreement, except in cases of gross negligence or intentional misconduct. Neither party shall be liable for indirect, special, consequential, or punitive damages, including lost profits, unless such damages result directly from gross negligence or breach of contract by the other party.
- Dispute Resolution. Any disputes arising from or relating to this Agreement shall be resolved through amicable negotiation. All official communication to be conducted by way of email. If a resolution cannot be reached, the matter shall be referred to arbitration in accordance with the rules of Uganda.
- Term and Termination. This Agreement shall remain in effect for a period of one (1) year from the Effective Date. Either party may terminate this Agreement by providing written notice to the other party thirty (30) days prior to termination. Ongoing deals initiated prior to termination shall continue and be concluded according to the terms of this Agreement which means any commission earned from such pending sales shall still be shared proportionally.
- Entire Agreement. This Agreement contains the entire understanding between the parties and supersedes any prior agreements or understandings and/or representations made, whether written or oral. No amendments to this Agreement will be valid unless in writing and signed by both parties. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.