Appointment of Agent
1.1 The Principal hereby appoints the Agent, and the Agent hereby accepts such appointment, as a consultant with the purpose of providing advise on how to buy property in Romania and is acting as agent to locate property for personal or investment purposes, upon the terms and conditions contained in this agreement.
1.2 The Agent will in the normal course of service:
(a) to act dutifully and in good faith; and
(b) using its knowledge of the property market and its association with
developers and estate agents and other sources, seek out quality
personal or investment property for sale with the aim of sourcing the most
appropriate property for the Principal taking into account the purpose the
property is required for; and
(c) negotiate with developers and/or estate agents with regard to sale price
of property; and
(e) (For consultations only) provide all the telephone and email consultation required in order to secure the purchase of a property in Romania for up to 90 days after signing of this agreement or until a property has been purchased, whichever is sooner.
1.1 Neither the Agent nor any party associated with the Agent gives any warranties or
Representatives in connection with any properties. The Principal must satisfy itself as to the correctness and accuracy of any information provided.
1.2 Neither the Agent nor any party associated with the Agent guarantees that any
Property is fit for purpose nor guarantees any rental incomes, increase in valuations or profit.
3.1 Fees
Fees are payable to the Agent by the Principal. The fee is £1,995 plus 18% VAT or 2.5% plus 18% VAT of the value of the property (whichever is the greater) upon reservation of a property sourced by the Agent. The fee shall become due upon reservation of an apartment and will be paid for by cheque or bank transfer on the day of reservation. The fees payable and payment terms can only be varied by the written agreement of both parties.
For each additional property purchased after the first one, the Principal will be liable to pay an additional £1,995 plus 18% VAT or 2.5% plus 18% VAT of the value of the property (whichever is the greater).
The Principal will be liable to pay these fees if the property that they (or associated person or company) purchase is a property which was sourced, introduced or identified by the Agent pursuant to this agreement or a property on a development sourced, introduced or identified by the Agent.
3.2 Return of fees
The fee would be refunded to the Principal only in the circumstances where the Agent was unable fulfil the property services promised.
The fee is only payable once the property is reserved by the Principal or by an associate of the Principal. This amount is only refundable to the client if the developer/seller withdraws the property from the market.
The Agent admits no liability with regards to finance options or other aspects offered by 3rd party suppliers not under the control of the Agent.
3.3 Payment of Reservation Deposit
Upon finding a suitable property, the Principal is required to pay the fee as reservation deposit in order to secure the property and have it removed from the market.
This fee will only be refunded to the client if the developer/seller withdraws the property from the market.
It will be agreed that a meeting will take place to sign Preliminary contracts for the chosen property.
If this does not happen within 21 days then the Agent reserves the right to re-allocate the reserved unit to another investor or not.
5.3 Neither the Agent nor any party associated with the Agent shall have any liability
for any consequential loss. Except in respect of death or personal injury resulting
from negligence, the Agent shall only be liable to the Principal for direct loss,
whether such loss results from a breach of this agreement or otherwise.
5.4 Notwithstanding clause 5.2, the total liability of the Agent for any loss of the
Principal arising in any year of this agreement, whether in respect of one event or
A series of events, shall be limited to and shall not exceed the aggregate of the Fees payable during that year pursuant to clause 3.1.
7.0 The Principal hereby acknowledges that:
(a) The Agent is not responsible for any failure of any property sourced
Pursuant to this Agreement to achieve any financial performance expectations; and
(b) The Agent will not be held responsible for any information or errors in
information provided by the Agent to the Principal in relation to finance, or for any names of contacts provided by the Agent to the Principal for the purposes of obtaining finance; and
(c) the Agent is not responsible for the quality of legal advice and services
that are provided by the selected lawyer and the Principal acknowledges and accepts that it is his responsibility to ensure that the lawyer communicates with the Principal and respresents the Principalís interests fairly and effectively and that the Principal is free to negotiate alternative terms of engagement with the selected lawyer and that any additional expense resulting from that negotiation would be the responsibility of the Principal.
8.0 Partnership or agency
8.1 Nothing in this Agreement shall be deemed to constitute a partnership or joint
venture between the Parties.
8.2 Nothing contained in this Agreement shall authorise any Party to act as agent or
Representative of any other Party or to authorise any Party to assume or create any obligations on behalf of any other Party, except as expressly provided for in this agreement whatsoever including any implied under statute or by common law by the principal/agent relationship.
By signing this Agreement, we hereby agree to be bound by its terms.