Commercial Brokerage is one of the four commercial intermediary activities covered by the Commercial Law 2005. How is this activity carried out? What are the obligations of the parties entering into a contract? This article shares in detail the legal regulations surrounding commercial brokerage according to current legal regulations. 

CSPL: Articles 150, 151, 152, 153 Commercial Law 2005

1. Commercial Broker

Commercial Broker is a commercial activity whereby a trader acts as an intermediary (called a broker) for parties buying and selling goods or providing services (called brokers) in negotiating and concluding contracts to buy and sell goods and services and is entitled to remuneration according to the brokerage contract.

2. Obligations of the commercial broker

Pursuant to the provisions of Article 151 of the 2005 Commercial Law, unless otherwise agreed, the commercial broker has the following obligations:

– Preserve samples of goods and documents assigned to perform the brokerage and must return it to the brokered party after completing the brokerage. Brokerage.

– Do not disclose or provide information that harms the interests of the brokered party.

– Be responsible for the legal status of the brokered parties, but not responsible for their solvency;

– Do not participate in the performance of contracts between the brokered parties, unless authorized by the brokered party. world.

3. Obligations of the brokered party

Pursuant to the provisions of Article 152 of the 2005 Commercial Law, unless otherwise agreed, the brokered party has the following obligations:

– Provide necessary information, documents, and means related to goods and services.

– Pay brokerage remunerations and reasonable expenses another for the broker.

4. Right to receive brokerage remuneration

– According to the provisions of Article 153 of the 2005 Commercial Law, unless otherwise agreed, the right to receive brokerage remuneration arises from the time the brokered parties sign a contract with each other.

– In case there is no agreement, the brokerage remuneration level is determined according to the price of that type of service under similar conditions of supply method and time of supply. response, geographical market, payment method and other conditions that affect service prices.