Buyer Customer Service Agreement – Restated MANDATE
We will review the “Restated MANDATE” provision in the Customer Service agreement in detail. My comments will appear in “italics”. I will first set out the section in full as it appears in the document, then I will break it apart for detailed review.
“THE BROKERAGE AGREES TO ASSIST THE BUYER IN LOCATING A REAL PROPERTY OF THE GENERAL DESCRIPTION INDICATED ABOVE AND TO PROVIDE CUSTOMER SERVICE TO THE BUYER IN AN ENDEAVOUR TO PROCURE THE ACCEPTANCE OF AN AGREEMENT TO PURCHASE OR LEASE APROPERTY ACCEPTABLE TO THE BUYER.”
It is noteworthy that this section appears totally in BOLD print. Presumably, it is very important.
We already had a “mandate” but this time we have it again, but slightly different wording. There is no title in the contract. It appears just above the signatures.
THE BROKERAGE AGREES TO ASSIST THE BUYER
The operative words here are “assist”.
IN LOCATING A REAL PROPERTY OF THE GENERAL DESCRIPTION INDICATED ABOVE
The task at hand is to find a suitable property that matches the outline on page 1.
AND TO PROVIDE CUSTOMER SERVICE TO THE BUYER
This a customer service contract, not agency.
IN AN ENDEAVOUR TO PROCURE THE ACCEPTANCE OF AN AGREEMENT TO PURCHASE OR LEASE A PROPERTY
The goal is to complete a purchase or lease.
ACCEPTABLE TO THE BUYER.
And, finally, that deal would have to be acceptable to the Buyer.
Brian Madigan LL.B., Broker