OPEN MANDATE
Made and entered into by and between: (hereinafter “the seller”) and (hereinafter “the agent”) 1 The seller hereby appoints the agent to find a Purchaser for his/her/its (delete that which is not applicable) property or business which is more fully described as: ________________________________________________________________________________________________________________________ ________________________________________________________________________________________________________________________ ________________________________________________________________________________________________________________________ ___________________________________________________________________ 2 2.1 The agent shall find a purchaser who is willing and able to purchase the seller's property or business upon terms and conditions which substantially correspond with the special terms and conditions set out in 2.2 below, alternatively upon such terms and conditions as are ordinarily applicable to the purchase and sale of property or businesses. 2.2 The terms and conditions of this mandate are: PURCHASE PRICE: TERMS OF PAYMENT OF PURCHASE PRICE: AMOUNT OF DEPOSIT: TIME FOR PAYMENT OF BALANCE: DATE BY WHICH GUARANTEES TO BE FURNISHED: DATE WHEN POSSESSION IS TO BE GIVEN: DATE WHEN OCCUPATION IS TO BE GIVEN: 3 The agent's appointment will endure for a period of _______________ from the date of signature hereof. 4 If the agent fulfils his/her/its mandate, the agent will be entitled to a commission at the appropriate rate fixed by the (delete that which is not applicable ) Estate Agents Board or relevant Institute of Business brokers from time to time. 5 The agent will earn his/her/its commission if a Purchaser introduced by the agent is willing and able to purchase the property or business and signs a written offer for the purchase of the property of the business. 6 The agent will have earned his/her/its commission immediately upon the delivery to the Seller of the aforementioned written offer to purchase signed by a willing and able Purchaser. However, if any offer (or agreement arising upon the acceptance of any offer) is subject to any specific condition, then the agent will only have earned his/her/its commission upon the fulfilment of such condition.
THUS DONE AND SIGNED BY THE RESPECTIVE PARTIES AS FOLLOWS
_______________________ NAME: Seller Place: Date: _______________________ NAME: Agent Place: Date:
______________________ WITNESS
_______________________ WITNESS