Common use of Brokers/Manufacturer’s Representatives Clause in Contracts

Brokers/Manufacturer’s Representatives. Add the following sentence after the third (last) sentence. “Per the New York State Department of Economic Development, only the monetary value for fees, or the markup percentage, will be credited when an MWBE broker is used (industry standards typically reflect a brokerage fee of 5-7% from the total contract amount)”.

Appears in 4 contracts

Samples: Addendum to the Standard Specifications, Addendum to the Standard Specifications, Addendum to the Standard Specifications

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Brokers/Manufacturer’s Representatives. Add the following sentence after the third (last) sentencesentence of the 2nd paragraph. “Per the New York State Department of Economic Development, only the monetary value for fees, or the markup percentage, will be credited when an MWBE broker is used (industry standards typically reflect a brokerage fee of 5-7% from the total contract amount)”.

Appears in 1 contract

Samples: Addendum

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