Common use of Commission and Payments Clause in Contracts

Commission and Payments. 6.1 The Seller shall pay to the Agent a commission equal to £1,050.00 plus 3% of funds greater than £20,000.00 against the Price for which the Agent concludes a sale contract on behalf of the Seller pursuant to and during the term of the Contract. 6.2 Notwithstanding clause 6.1 there shall be a minimum commission payment of £1,050.00 (which applies to a final sale value equal to or lesser than £20,000.00) and a maximum commission payment of £3,430.00 (which applies to a final sale value equal to or greater than £100,000.00) payable by the Seller to the Agent. 6.3 The commission detailed in clauses 6.1 and 6.2 above shall also be payable in the event that a sales contract for the Boat is concluded in the following circumstances: - a. a sale contract for the Boat is concluded during the term of the Contract and the buyer is not found by the Agent but by another agent or by any other person, including the Seller; b. a sale contract for the Boat is concluded after the termination of the Contract but to a buyer who was found during the term of the Contract (whether or not by the Agent) or with whom the Agent had negotiations about the Boat during that period in which case the commission payable shall be based on the asking price agreed with the Agent during the term of the Contract. 6.4 The Seller shall pay a slipway charge (if applicable) based on the Agent’s current price list from time to time. Should the Agent move the boat for their own purposes No charge will be incurred. 6.5 The Seller shall pay a storage charge to the Agent for the Boat based on the Agent’s current price list from time to time less any applicable “free” period detailed in the Vendors Agreement to these Conditions. 6.6 The Seller agrees to appoint the Agent to hold the Deposit as Stakeholder, and the balance of the Purchase Price (or other sums) as Agent for the Seller and paid into a separate client account. As soon as any sale has been satisfactorily completed and cleared funds received, the money (being the agreed sale price less any commission payable and any outstanding mortgage, finance contract or hire purchase agreement or arrangement, Clause 6.11) will be paid by cheque to the Seller. Payment to the Seller by CHAPS can be processed where possible. A charge (approximately £25.00) will be made to cover costs if the Seller requests payment by this method. 6.7 The Seller undertakes and agrees that the deposit will be subject to the terms of the Agreement for Sale and purchase of a second hand boat – Conditional or Unconditional, between the Seller and Purchaser and with the Agent as Stakeholder. 6.8 All sums payable under the Contract are exclusive of any value added tax or other applicable sales tax, which shall be added to the sum in question. A VAT invoice shall be provided against any payment. 6.9 All sums payable by the Seller under clause 6.4 and 6.5 shall be paid in full and in cleared funds within 30 days of the date of the invoice. 6.10 In the event of the Boat being subject to any outstanding mortgage, finance contract or hire purchase agreement or arrangement the Seller agrees that payment will be made in full by the Agent from the sale proceeds and the balance (if any) sent to the Seller in accordance with clause 6.6.

Commission and Payments. 6.1 The Seller shall pay to the Agent a commission equal to £1,050.00 1,030.00 plus 3% of funds greater than £20,000.00 against the Price for which the Agent concludes a sale contract on behalf of the Seller pursuant to and during the term of the Contract. 6.2 Notwithstanding clause 6.1 there shall be a minimum commission payment of £1,050.00 1,030.00 (which applies to a final sale value equal to or lesser than £20,000.00) and a maximum commission payment of £3,430.00 (which applies to a final sale value equal to or greater than £100,000.00) payable by the Seller to the Agent. 6.3 The commission detailed in clauses 6.1 and 6.2 above shall also be payable in the event that a sales contract for the Boat is concluded in the following circumstances: - a. a sale contract for the Boat is concluded during the term of the Contract and the buyer is not found by the Agent but by another agent or by any other person, including the Seller; b. a sale contract for the Boat is concluded after the termination of the Contract but to a buyer who was found during the term of the Contract (whether or not by the Agent) or with whom the Agent had negotiations about the Boat during that period in which case the commission payable shall be based on the asking price agreed with the Agent during the term of the Contract. 6.4 The Seller shall pay a slipway charge (if applicable) based on the Agent’s current price list from time to time. Should the Agent move the boat for their own purposes No charge will be incurred. 6.5 The Seller shall pay a storage charge to the Agent for the Boat based on the Agent’s current price list from time to time less any applicable “free” period detailed in the Vendors Agreement to these Conditions. 6.6 The Seller agrees to appoint the Agent to hold the Deposit as Stakeholder, and the balance of the Purchase Price (or other sums) as Agent for the Seller and paid into a separate client account. As soon as any sale has been satisfactorily completed and cleared funds received, the money (being the agreed sale price less any commission payable and any outstanding mortgage, finance contract or hire purchase agreement or arrangement, Clause 6.11) will be paid by cheque to the Seller. Payment to the Seller by CHAPS can be processed where possible. A charge (approximately £25.00) will be made to cover costs if the Seller requests payment by this method. 6.7 The Seller undertakes and agrees that the deposit will be subject to the terms of the Agreement for Sale and purchase of a second hand boat – Conditional or Unconditional, between the Seller and Purchaser and with the Agent as Stakeholder. 6.8 All sums payable under the Contract are exclusive of any value added tax or other applicable sales tax, which shall be added to the sum in question. A VAT invoice shall be provided against any payment. 6.9 All sums payable by the Seller under clause 6.4 and 6.5 shall be paid in full and in cleared funds within 30 days of the date of the invoice. 6.10 In the event of the Boat being subject to any outstanding mortgage, finance contract or hire purchase agreement or arrangement the Seller agrees that payment will be made in full by the Agent from the sale proceeds and the balance (if any) sent to the Seller in accordance with clause 6.6.

Commission and Payments. 6.1 The Seller shall pay to the Agent a commission equal to £1,050.00 1450.00 plus 3% of funds greater than £20,000.00 against the Price for which the Agent concludes a sale contract on behalf of the Seller pursuant to and during the term of the Contract. 6.2 Notwithstanding clause 6.1 there shall be a minimum commission payment of £1,050.00 1,450.00 (which applies to a final sale value equal to or lesser than £20,000.00) and a maximum commission payment of £3,430.00 4500.00 (which applies to a final sale value equal to or greater than £100,000.00) payable by the Seller to the Agent. 6.3 The commission detailed in clauses 6.1 and 6.2 above shall also be payable in the event that a sales contract for the Boat is concluded in the following circumstances: - a. a sale contract for the Boat is concluded during the term of the Contract and the buyer is not found by the Agent but by another agent or by any other person, including the Seller; b. a sale contract for the Boat is concluded after the termination of the Contract but to a buyer who was found during the term of the Contract (whether or not by the Agent) or with whom the Agent had negotiations about the Boat during that period in which case the commission payable shall be based on the asking price agreed with the Agent during the term of the Contract. 6.4 The Seller shall pay a slipway charge (if applicable) based on the Agent’s current price list from time to time. Should the Agent move the boat for their own purposes No charge will be incurred. 6.5 The Seller shall pay a storage charge to the Agent for the Boat based on the Agent’s current price list from time to time less any applicable “free” period detailed in the Vendors Agreement to these Conditions. 6.6 The Seller agrees to appoint the Agent to hold the Deposit as Stakeholder, and the balance of the Purchase Price (or other sums) as Agent for the Seller and paid into a separate client account. As soon as any sale has been satisfactorily completed and cleared funds received, the money (being the agreed sale price less any commission payable and any outstanding mortgage, finance contract or hire purchase agreement or arrangement, Clause 6.11) will be paid by cheque to the Seller. Payment to the Seller by CHAPS can be processed where possible. A charge (approximately £25.00) will be made to cover costs if the Seller requests payment by this method. 6.7 The Seller undertakes and agrees that the deposit will be subject to the terms of the Agreement for Sale and purchase of a second hand boat – Conditional or Unconditional, between the Seller and Purchaser and with the Agent as Stakeholder. 6.8 All sums payable under the Contract are exclusive of any value added tax or other applicable sales tax, which shall be added to the sum in question. A VAT invoice shall be provided against any payment. 6.9 All sums payable by the Seller under clause 6.4 and 6.5 shall be paid in full and in cleared funds within 30 days of the date of the invoice. 6.10 In the event of the Boat being subject to any outstanding mortgage, finance contract or hire purchase agreement or arrangement the Seller agrees that payment will be made in full by the Agent from the sale proceeds and the balance (if any) sent to the Seller in accordance with clause 6.6.

Commission and Payments. 6.1 The Seller shall pay to the Agent a commission equal to £1,050.00 1,677.500 plus 3% of funds greater than £20,000.00 15,000.00 against the Price for which the Agent concludes a sale contract on behalf of the Seller pursuant to and during the term of the Contract. 6.2 Notwithstanding clause 6.1 there shall be a minimum commission payment of £1,050.00 (which 1,677.50(which applies to a final sale value equal to or lesser than £20,000.0015,000.00) and a maximum commission payment of £3,430.00 5000.00 (which applies to a final sale value equal to or greater than £100,000.00) payable by the Seller to the Agent. 6.3 The commission detailed in clauses 6.1 and 6.2 above shall also be payable in the event that a sales contract for the Boat is concluded in the following circumstances: - a. a sale contract for the Boat is concluded during the term of the Contract and the buyer is not found by the Agent but by another agent or by any other person, including the Seller; b. a sale contract for the Boat is concluded after the termination of the Contract but to a buyer who was found during the term of the Contract (whether or not by the Agent) or with whom the Agent had negotiations about the Boat during that period in which case the commission payable shall be based on the asking price agreed with the Agent during the term of the Contract. 6.4 The Seller shall pay a slipway charge (if applicable) based on the Agent’s current price list from time to time. Should the Agent move the boat for their own purposes No charge will be incurred. 6.5 The Seller shall pay a storage charge to the Agent for the Boat based on the Agent’s current price list from time to time less any applicable “free” period detailed in the Vendors Agreement to these Conditions. 6.6 The Seller agrees to appoint the Agent to hold the Deposit as Stakeholder, and the balance of the Purchase Price (or other sums) as Agent for the Seller and paid into a separate client account. As soon as any sale has been satisfactorily completed and cleared funds received, the money (being the agreed sale price less any commission payable and any outstanding mortgage, finance contract or hire purchase agreement or arrangement, Clause 6.11) will be paid by cheque to the Seller. Payment to the Seller by CHAPS can be processed where possible. A charge (approximately £25.00) will be made to cover costs if the Seller requests payment by this method. 6.7 The Seller undertakes and agrees that the deposit will be subject to the terms of the Agreement for Sale and purchase of a second hand boat – Conditional or Unconditional, between the Seller and Purchaser and with the Agent as Stakeholder. 6.8 All sums payable under the Contract are exclusive of any value added tax or other applicable sales tax, which shall be added to the sum in question. A VAT invoice shall be provided against any payment. 6.9 All sums payable by the Seller under clause 6.4 and 6.5 shall be paid in full and in cleared funds within 30 days of the date of the invoice. 6.10 In the event of the Boat being subject to any outstanding mortgage, finance contract or hire purchase agreement or arrangement the Seller agrees that payment will be made in full by the Agent from the sale proceeds and the balance (if any) sent to the Seller in accordance with clause 6.6.