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Broker disclosure statement
A one-page statement a broker can give a client before a transaction, so there is nothing to hide.
Give this to a client before they decide anything. Keep a signed copy. Adapt the wording for your firm and consult your own lawyer.
Disclosure of commissions and interests Client: [name] Broker / firm: [name] Transaction: [charter / sale / purchase of …] Date: [date]
1. Commission payable to us on this transaction
- Our commission is [percentage / amount / basis of calculation], as set out in [the contract clause reference].
- It is paid [by the owner / by the buyer / split as follows].
- It is paid to [firm name] and recorded in its accounts.
- Co-brokers or other intermediaries who will share in it: [none / names and share].
2. Other payments, discounts or benefits connected with this transaction We have not received and do not expect to receive any fee, commission, discount, gift, hospitality or other benefit from any supplier, yard, agent or third party in connection with this transaction, except as listed here:
| From | Benefit | Amount or value | Why |
|---|---|---|---|
3. Suppliers we recommend Where we recommend a supplier, we do so on price, quality, reliability and suitability. We will tell you if we have any financial or personal interest in that supplier.
4. Your rights You may ask us at any time to explain anything above, and to provide copies of supporting documents. If any information in this statement changes, we will tell you in writing before you rely on it.
Signed (broker): ____________ Acknowledged (client): ____________ Date: ______
General information, not legal advice.
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