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General business terms and conditions

CITY EXPERT GLOBAL D.O.O. Belgrade as Real Estate Broker

I GENERAL PROVISIONS

1.1 General provisions of the company "CITY EXPERT GLOBAL" d.o.o. Belgrade-Palilula, Miše Vujica No. 2, 11060 Belgrade, registration number: 21081337, tax identification number: 108854724 listed on the Register of Real Estate Brokers under serial number 313, by the Decision of Ministry of Trade, Tourism and Telecommunications under serial number 46-00-331/2015-04 (hereinafter: the Broker), regulate the relations of the Real Estate Broker and the natural or legal person (hereinafter: the Principal), who conclude a Real Estate Brokerage Agreement in order to conclude a specific legal transaction concerning sale, purchase or lease of the immovable property.

II IMMOVABLE PROPERTY OFFER

2.1 The offer of the Agent's real estate is based on the information obtained by the Agent from the sponsors and advertisers or by direct observation when examining the real estate.

2.2 The Principal, under full criminal and material responsibility, by signing the Brokerage Agreement, guarantees that the information given to the Agent regarding the real estate in question and the real rights are entirely true.

III BROKERAGE AGREEMENT

3.1 The brokerage shall be carried out based on the Brokerage Agreement of sale, purchase or lease of the immovable property (hereinafter: the Brokerage Agreement). The Brokerage Agreement regulates mutual rights and obligations of the Principal and the Broker and is concluded in written form between the Principal and the Broker.

IV BROKER'S OBLIGATIONS

4.1 Depending on the type of the Brokerage Agreement and in accordance with its provisions, the real estate agent undertakes to perform the following tasks:

  • The Broker will endeavor to find a party interested in concluding the transaction which is the subject of the Brokerage Agreement and introduce them to the Principal;
  • The Broker has to share with the Principal his objective opinion on the immovable property selling price or the immovable property lease price in accordance with the property characteristics, market conditions, and other relevant factors;
  • Access the files that demonstrate property ownership or any other legal right to sell and/or lease the immovable property, and warn the Principal about potential risks concerning registration of the immovable property in real estate registry, real estate rights registration, real estate encumbrance, the pre-emption right and legal transaction limits, in accordance with the relevant regulations;
  • Enable the Principal to arrange real-estate viewing with the party interested in concluding a legal transaction;
  • If the Broker and the Principal agreed upon following actions, the Broker is obliged to complete the necessary tasks to present the immovable property on the market and place an advertisement on cityexpert.rs portal for selling and/or leasing purposes in an appropriate way, and complete all other actions stipulated by the Brokerage Agreement that go beyond usual presentation, to which the Broker shall be entitled to specific expenses specified in advance, if agreed upon with the Principal.
  • Notify the Principal (vendor/lessor) of each interested buyer/lessee and enable them to arrange real estate viewing with the said person.
  • Notify the Buyer, if he / she has previously requested so, of any new real-estate on offer that meets the criteria of the Buyer, and enable him / her to arrange with the property owner the viewing of the property in question.
  • Be part of the negotiation process and seek to conclude the contract;
  • Keep the Principal's personal data safe, and if the Principal issues a written plea, keep as a trade secret the information about the real estate which is subject to sale and/or lease or information regarding that real estate or brokerage transaction, unless the information is needed for the Brokerage Agreement execution;
  • Inform the Principal about all relevant factors for said agreement, that he knows about or should know about;

4.2 It is considered that the Broker fulfilled his contractual commitment stipulated in the Brokerage Agreement with the Principal if he fulfilled the following:

  • Directly arranged Principal's property viewing for third parties;
  • Organized Principal's meeting with third parties to discuss, negotiate and conclude the legal transaction;

4.3 The Broker can lawfully execute all his obligations, defined by the Brokerage Agreement, electronically.

4.4 Each scheduled property viewing can be attended by a representative of the Broker, in order to ensure the implementation and compliance of Principal's obligations from the Brokerage Agreement.

V PRINCIPAL’S OBLIGATIONS

5.1 The Principal, depending on the type of Brokerage Agreement and in accordance with its provisions, undertakes to:

  • Inform the Broker about all relevant factors for the said agreement;
  • Provide the Agent with information on all desired characteristics of the property;
  • Give original documents about his property rights for inspection, i.e. inform the Broker about every registered or unregistered real estate encumbrance;
  • Provide an ID photocopy (or electronic card reading) or a passport photocopy.
  • Inform the Broker, upon signing the Brokerage Agreement, about phone numbers and e-mail addresses that he uses, and from which the Broker receives information and instructions, and to which the Broker shall send the required information for executing the contract;
  • In case of changes in contact information, the Principal is obliged to inform the Broker as soon as possible;
  • To enable the Agent and the party interested in concluding the legal transaction to view the real-estate in the manner and at the time agreed upon. (Principal Vendor, Principal Lessor)
  • Attend every scheduled viewing of the real estate, in the manner and at the time agreed upon; in case the Buyer is unable to attend the viewing, he/she is obliged to inform the Agent in due time (Principal Buyer);
  • Inform the Broker about all important information about the immovable property, particularly including accurate information about the price, location, structure of the property etc.;
  • Provide the Broker with the authenticated copies of the documents that prove the immovable property ownership in question. These copies ought to be provided to the Broker upon conclusion of legal transaction - preliminary contract or main contract in connection with the sale or lease of the immovable property;
  • To pay the Broker the commission fee, which was previously agreed upon, and if it is specifically agreed upon, to compensate other expenses to the Broker incurred during the brokerage;
  • Inform the Broker on all changes concerning the brokerage transaction, and especially regarding the changes related to property rights, deadlines and price, no later than 24 hours after the change occurred.
  • Notify the Broker, in a timely manner, about every change or withdrawal of the request;
  • The Principal undertakes to sign a corresponding record confirming that the Agent has introduced him/her to the person interested in concluding the brokered legal transaction, whenever the Agent requires it. In case the Agent’s representative does not attend the meeting with the interested person /real-estate viewing, instead of signing the appropriate record, the Agent shall inform the Principal using electronic means of communication (e-mail and SMS) about the interested party and of the scheduled viewing time, which will be considered full discharge of the Agent’s obligation to acquaint the Principal with the interested person.
  • During real-estate viewing, the Principal is introduced to the interested party with whom the Principal enters into direct negotiation on the terms of the sale / lease;
  • If during the contract's validity period or within 1 (one) year following the contract's expiration, the Principal of the listing broker agreement concludes a Preliminary Sale Agreement i.e. Agreement on Sale (if the Preliminary Agreement has not been previously concluded) with the Purchaser who was introduced to the Principal by the Agent, the Principal undertakes to notify the Agent the day before at the latest of the scheduled contract signing (solemnization) of the Preliminary Sale Agreement i.e. Sale Agreement (in case the Preliminary Agreement has not been concluded) in the authorized public notary's office as well as to submit a photocopy of the conclusion of the subject Preliminary Agreement or the Agreement itself within three (3) days since the conclusion of the Preliminary Agreement i.e. Agreement on Sale (if the Preliminary Agreement has not been previously concluded).
  • If during the contract's validity period or within 1 (one) year following the contract's expiration, the Principal of the real-estate buyer broker agreement concludes a Preliminary Sale Agreement i.e. Agreement on Sale (if the Preliminary Contract has not been previously concluded) with the Buyer who was introduced to the Principal by the Agent, the Principal undertakes to notify the Agent the day before at the latest of the scheduled contract signing (solemnization) of the Preliminary Sale Agreement i.e. Sale Agreement (in case the Preliminary Agreement has not been concluded) in the authorized public notary's office as well as to submit a photocopy of the conclusion of the subject Preliminary Agreement or the Agreement itself within three (3) days since the conclusion of the Preliminary Agreement i.e. Agreement on Sale (if the Preliminary Agreement has not been previously concluded).
  • The Principal from the Brokerage agreement for the lease of the immovable property, that during the term of the agreement, and within 1 (one) year after its termination, concludes the Contract of the immovable property lease with the tenant, with whom the Broker introduced him, is obliged to, within 3 (three) days from the date of the conclusion of the Contract notify the Broker of the scheduled conclusion and deliver a photocopy of the executed Contract to the Broker;
  • The Principal, by signing the Brokerage Agreement, authorizes the Broker to obtain all data on the conclusion of the legal affairs, from the competent public notary and other competent authorities (the manager of the residential building, the Tax Administration, the Ministry of Internal Affairs, etc.), in order to protect the rights and legal interests of the Broker;
  • The Principal must not claim the costs of a brokerage fee from the other party with whom the Broker introduced him to in order to conclude the brokerage transaction.
  • If a financial liability, which the Principal had not paid to the Broker, arises by the moment of the termination of the Brokerage Agreement, the Principal is obliged to pay the costs no later than the moment of the termination of the Brokerage Agreement.
  • If the Principal issues an order for brokerage or concludes the Brokerage Agreement contrary to the principles of good faith and fair dealing, the Principal is liable to compensate the costs incurred during the brokerage, which cannot exceed the amount of contracted brokerage fee.

VI EXCLUSIVE BROKERAGE RIGHTS

6.1 The Principal may be bound by the exclusive clause of brokerage exclusivity, that he will not hire another broker for the immovable property brokerage within the agreed period.

6.2 If during the exclusive brokerage clause validity period the Principal concludes legal transaction relating to the immovable property, referred to in Article (6.1), which was executed by another broker, the Principal is obliged to pay the Broker that he signed an exclusive brokerage agreement with, compensation for the damages in the amount of contracted brokerage commission.

VII BROKERAGE COMMISION RIGHT

7.1 The Broker obtains the right to brokerage commission when the Principal enters a lease agreement or concludes a Preliminary contract or Contract (if there was no Preliminary contract) on sale of immovable property with the tenant or the buyer, and/or the seller the Broker had introduced.

7.2 Brokerage commission for immovable property sale or property lease is charged in accordance with the Brokerage Commission and Additional Services Price List, which are the part of General business terms and conditions.

7.3 In accordance with their business policy, the Agent and any Principal may enter into a brokerage agreement which stipulates that in case the Principal fails to fulfill one of his/her contractual obligations, the Agent is obliged to pay the brokerage fee greater than the fee stipulated in the Brokerage Price List of Fees and Additional Services.

7.4 In accordance with their business policy, the Agent may, if the circumstances of the particular case so warrant, grant the Client a discount on the amount of the brokerage fee.

7.5 In case the Principal terminates the Brokerage Agreement and concludes a legal transaction as a direct consequence of the Agent's actions before the expiration of the contract within a period not exceeding six months (for real-estate leasing contracts), or one year (for real-estate listing or buyer's contracts) since the day of expiration, the Principal shall pay the agreed fee in total, unless the Agreement stipulates differently.

VIII CONTRACT ON SUB-BROKERAGE

8.1 The Broker may transfer his rights and liabilities stated in the Brokerage Agreement entirely or partially, to another broker, if the Principal gave his consent to this action in the Brokerage Agreement.

8.2 The Sub-brokerage contract contains the method and conditions for transferring the rights and obligations form the Article 8.1, commission payment and contract termination.

8.3 The Broker is obliged to hand over a copy of the Contract on sub-brokerage to the Principal within three days from the date of the contract conclusion.

IX CONFIDENTIALITY AND COPYRIGHT

9.1 In accordance with the Law on Personal Data Protection, the Broker has adopted the Ordinance on Personal Data Protection and manages the data collection that is registered under the number 164-00-00018/2016-07 with the Commissioner for information of public importance and personal data protection. By signing the Brokerage Agreement, the Principal gives consent to phone call recordings with the Broker, for the purpose of realization of the Contract.

9.2 All data and information stated in the Brokerage Agreement, and all other data and information concerning the method and performance of the contract execution are considered a trade secret.

9.3 All photographs, videos, technical drawings and written description of the property made by the Broker, are considered the exclusive intellectual property of the Broker. The Principal or any third parties do not have the rights to publish, use, and reproduce that material, or to use the material for commercial purposes, without the Broker's written consent.

X PRICELIST OF BROKERAGE FEES AND ADDITIONAL SERVICES

10.1 Brokerage commission for Real Estate Listing Sale Brokerage Agreements 1.5% of the of the contracted price of the real estate (+VAT of 20%), but not less than 106,000.00 RSD (including VAT of 20%)

10.2 Brokerage commission for Real Estate Listing Lease Brokerage Agreements 40% of the contracted monthly rent (+VAT of 20%)

10.3 Additional services of designing and producing advertising material (when previously arranged) 20,000.00 RSD (including VAT of 20%)

XI FINAL PROVISIONS

11.1 Law on Real Estate Brokerage, Law on Transfer of Immovable Property, Law on Contracts and Torts, Law on Prevention of Money Laundering and the Financing of Terrorism and other regulations of the Republic of Serbia shall apply to all relations between Broker and the Principal, which are not regulated by General business terms and conditions or the Brokerage agreement.


In Belgrade, on October 15, 2019


CITY EXPERT GLOBAL DOO BEOGRAD

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