1. AGENCY PERIOD
This agreement may be terminated by either party giving seven days notice in writing but without prejudice to either parties rights accrued, or obligations incurred prior to the effective termination.

2. AGENTS AUTHORITY
i. The Agent is authorized to identify and recommend potential properties to the Principal pursuant to the terms and conditions set out in the statement of Property details above (or as amended).
ii. The Agent is authorized to negotiate on behalf of the Principal for the purchase of the Property pursuant to the terms and conditions set out in the statement of Property details above (or as amended).
iii. The Agent is authorized to bid on behalf of the Principal at the auction of a prospective Property approved by the Principal in writing. This clause may be varied in writing.

3. AGENTS REMUNERATION
i. A non-refundable retainer fee of $5,000 (+ GST) is applicable after the first 30 days.
ii. The Principal acknowledges that the Agent shall be entitled to a buying fee of 1.5% + GST and the Principal hereby agrees to pay the fee in accordance with this Agreement in the event that the Agent introduces to the Principal a vendor of a Property or the Property and the Principal: (a) enters into a contract for the purchase of the Property; (b) procures another person or entity to enter into a contract for the purchase of the Property; (c) enters into a contract for the purchase of shares if the property is company-owned; (d) procures another person to purchase shares; (e) by any other means becomes the legal and beneficial owner; or (f) becomes the owner of shares in a property-owning company.
iii. After the 30-day Satisfaction Guarantee period, a termination fee (the full engagement fee only) is payable by the Principal if the agreement is terminated.
iv. The Agreed Fee in 3(ii) is due and payable on exchange of contracts or on completion of transfer. Demand for payment may be made if contracts are not completed owing to default of the Principal.
v. The Agent is entitled to the buyers fee if the vendor/property was introduced prior to termination and the Principal satisfies purchase requirements within 3 months after such termination.

4. EXPENSES
The Principle is liable for any building/pest inspections, strata searches and legal conveyancing. The Principal agrees to advance the funds for such, or reimburse the costs to the Agent upon receipt of an invoice.

5. VARIATION OF FEES AND EXPENSES
The services and fees/expenses payable cannot be varied except as agreed by the Principal in writing.

6. FINANCIAL INSTITUTION TAXES OR DEDUCTIONS
The Agent shall be entitled to be reimbursed for any taxes or deductions debited by financial institutions attributable to the affairs of the Principal.

7. CONTRACT FOR SALE
The Agent is not authorized to sign a contract for sale on behalf of the Principal, unless they hold a power of attorney as instructed by the client.

8. CONJUNCTION
Unless otherwise instructed, the Agent may allow other agents to act in conjunction with them, but only one fee will be payable.

9. LIMIT OF AGENT’S SERVICES
The Agent shall not perform any services other than as specified in this agreement (or as amended).

10. GST
Any amounts payable are expressed inclusive of the Goods and Services Tax (GST) at the rate of 10%. If the rate varies, the amounts will be varied accordingly.

11. AGENTS INDEMNITY AND LIABILITY
The Principal will indemnify the Agent against all actions, claims, and expenses arising out of the proper performance of duties under this agreement.

12. FINANCIAL AND INVESTMENT ADVICE
The Principal acknowledges that advice provided is of a general nature and does not account for individual circumstances. Consultation with independent advisors is recommended.

13. MATERIAL FACT
i. The Principal warrants they have supplied all material facts regarding the proposed acquisition.
ii. "Material fact" has the same meaning as in Section 52 of the Property, Stock and Business Agents Act 2002.

14. PRIVACY POLICY
The Agent uses personal information to perform obligations under this agreement. Information may be disclosed to advisors, property data providers, and vendors as required under the Privacy Act 1988. The Principal may access or correct this information by contacting the Agent.

15. DISCLOSURE OF REBATES, DISCOUNTS OR COMMISSIONS
The Agent discloses that they may receive rebates, discounts, or commissions from third parties in respect of expenses incurred.

16. PRINCIPALS AUTHORITY
The Principal warrants that they have the legal authority to enter into this agreement.

17. ACKNOWLEDGEMENT
The Principal acknowledges being served with a copy of this Agreement.