Brokerage Agreement
/ˈbroʊkərɪdʒ əˈgriːmənt/
Definitions
- (n.) A contract whereby a broker is authorized to act as an intermediary to arrange transactions between a buyer and a seller.
The company signed a brokerage agreement to help sell its portfolio of properties.
- (n.) A contract specifying the terms including duties, fees, and scope under which brokerage services are provided in various industries such as real estate, insurance, or securities.
The brokerage agreement outlined the commission structure for selling the insurance policies.
Forms
- brokerage agreement
- brokerage agreements
Related terms
See also
Commentary
Brokerage agreements should clearly define the broker's scope, duties, and compensation to avoid disputes over authority and payment.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.