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Brokerage Agreements
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Att. Nilay Celebi
Introduction
Brokerage agreements are governed by Articles 520-525 of the
Turkish Code of Obligations (“Code”). Brokerage agreements are the
agreements where a broker prepares an environment to enable the par-
ties to reach an agreement, and undertakes to be the intermediary for
the execution of an agreement, and qualifies for a fee after the execu-
tion of such agreement. Real estate brokers, employment offices,
exchange brokers, financial brokers (eg: persons connecting the seller
of a company and buyers) are what constitutes brokers.
Brokerage
Persons who are considered as brokers provide an opportunity to
parties to reach an agreement and acts as intermediates between those
persons who are to execute an agreement, and/or directs and leads the
negotiations of this agreement.
Brokers,
(i) may be the lead in identifying persons who seek to reach an
agreement in accordance with the request, needs, terms and
conditions of the principal under the brokerage agreement,
and suggesting those people to the principle contact, and may
gather the parties together, and assist them in connecting with
each other.
(ii) may be actively involved in the negotiation process of the par-
ties, prepare or comment on the main agreement, and thus,
may play an active role in the execution and signing of such
agreement.
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NEWSLETTER 2015
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Article of November 2015