SOLE AND EXCLUSIVE MANDATE AGREEMENT
Made and entered into by and between NAME and DETAILS “the client/seller/mandator” AND NAME and DETAILS “the broker/agent/mandatee” 1. The undersigned client/seller/mandator hereby irrevocably instructs and authorizes NAME to find a purchaser for the under mentioned business and/or property as identified below, upon the following terms and conditions BUSINESS/PROPERTY NAME: REGISTRATION NUMBER/DETAILS: Address : Price : Actual amount or price range Terms: Deposit amount and when (DATE/TIME PERIOD) and how (CASH/CHEQUE/BANK DEPOSIT)? Balance amount, when payable, and how? If payable into trust account insert details thereof.
2.
Occupation of the said business and/or property shall be given to the purchaser on registration of new ownership or otherwise by mutual agreement in writing and signed by both parties. 3. It is hereby recorded that it shall be full and sufficient performance of the mandate if the broker/agent/mandatee finds a Purchaser willing and able to purchase on the terms and conditions as set out above, notwithstanding that no actual sale may be effected as a result of some act or omission on the part of the client/seller/mandator and the client/seller/mandator hereby irrevocably appoints NAME to be the sole selling agent of the above-mentioned business and/or property with effect as from today’s date and expiring on the DATE.
4.
The client/seller/mandator undertakes to pay NAME commission of X % excluding/including (relevant tax, if applicable), of the gross value of the transaction plus the value of any liabilities assumed by the agent/broker/mandatee and irrevocably authorise them to deduct the said commission from the deposit or any funds held in respect of this transaction on registration of the transfer of ownership.
5.
5.1. The client/seller/mandator further agrees to pay the broker/agent/mandatee commission as above, in the event of any of the following applying: 5.1.1. The direct sale of the business by the client/seller/mandator or through any other agent during the period of this mandate; or 5.1.2.The sale of the business after the expiry date of this mandate to any person introduced by the broker/agent/mandatee to the client/seller/mandator or to any person introduced by the client/seller/mandator to the business during the period of the mandate; or 5.1.3. Should the client/seller/mandator withdraw, cancel or commit any breach of this authority during the period hereof.
6. No addition to, variation of, or agreed cancellation of this Sole Authority shall be of any force or effect unless in writing and signed by me or on behalf of the parties. 7. As and when required I undertake to furnish NAME with all applicable financial information and supporting documents in respect of the business and/or property, which we warrant as being correct.
8.
The client/seller/mandator acknowledges that he/she/it though its lawfully authorized representative/s have read the Sole Authority to sell,understand it and accept the contents therein and agree to be bound thereto. SIGNED BY THE PARTIES AT __________________________ Signed as Seller/client/mandator for and on behalf of Capacity: WITNESS The broker/agent/mandatee accepts the benefits conferred upon him/her/it in terms of this Sole and Exclusive Mandate. ON THIS DAY OF .
_____________________________________________________ Signed as or for and behalf of Broker/Agent /Mandatee
WITNESS