OpenLegislation

Schedule THE EXPLANATION OF CERTAIN TERMS

Original text. Later amendments are not shown.

  1. (a)

    Sole selling rights

    “SOLE SELLING RIGHTS

    You will be liable to pay remuneration to us, in addition to anyother costs or charges agreed, in each of the following circumstances—

    • if [unconditional contracts for the sale of the property areexchanged]f2 in the period during which we have sole selling rights,even if the purchaser was not found by us but by another agent or by anyother person, including yourself;

    • if [unconditional contracts for the sale of the property areexchanged] after the expiry of the period during which we have soleselling rights but to a purchaser who was introduced to you during thatperiod or with whom we had negotiations about the property during thatperiod.”

  2. (b)

    Sole agency

    “SOLE AGENCY

    You will be liable to pay remuneration to us, in addition to anyother costs or charges agreed, if at any time [unconditional contractsfor the sale of the property are exchanged]—

    • with a purchaser introduced by us during the period of our soleagency or with whom we had negotiations about the property during thatperiod; or

    • with a purchaser introduced by another agent during that period.”

  3. (c)

    Ready, willing and able purchaser

    “READY, WILLING AND ABLE PURCHASER

    A purchaser is a“ready, willing and able” purchaser if he is prepared and is able to [exchange unconditionalcontracts for the purchase of your property].f3

    You will be liable to pay remuneration to us, in addition to anyother costs or charges agreed, if such a purchaser is introduced by usin accordance with your instructions and this must be paid even if yousubsequently withdraw and [unconditional contracts for sale are notexchanged]f4, irrespective of your reasons.”

Annotations

Footnotes

f1

In lieu of the words“us”,“we”,“our”,“you” or“your” may be inserted or printed the name of the agent, the agency or theclient, as appropriate, and for“the property” may be inserted the address thereof.

f2

In Scotland for the words in square brackets there shallbe substituted“unconditional missives for the sale of the property are concluded”.

f3

In Scotland for the words in square brackets there shallbe substituted“conclude unconditional missives for the purchase of your property”.

f4

In Scotland for the words in square brackets there shallbe substituted“unconditional missives for sale are not concluded”.