REFUND OF BROKERAGE ON A FAILED TRANSACTION

The agreed refund of a broker's fee where the transaction it was paid for did not happen

Executed at __________ on __________.

Parties

1. The Client — __________, __________, resident of __________, mobile __________, email __________ ("the Client").

2. The Broker — __________, of __________, mobile __________, email __________ ("the Broker").

Background

A. The Client paid the Broker a total of __________ as brokerage for __________, concerning the property at __________, in __________: __________ ("the Transaction").

B. __________

1. The refund

1.1 The Broker will refund __________ to the Client on or before __________, __________.

1.2 If the refund is not paid by __________, the Client may recover the unpaid amount from the Broker as a debt, with interest from that date.

2. Settlement

2.1 When the refund has been paid in full, neither party has any further claim against the other for brokerage on the Transaction.

2.2 If the parties to the Transaction revive it and complete it on substantially the same terms within 6 months after the refund is paid, the brokerage originally agreed becomes payable again, and the refund does not reduce it.

2.3 Nothing in this document is an admission by either party of responsibility for the failure of the Transaction, and it does not affect any claim either of them has against the other party to the Transaction.

3. General

3.1 This document is governed by the law in force in __________, and only the courts having jurisdiction where the Property is situated may decide a dispute about it.

3.2 Nothing in this document transfers or creates any interest in any property.

3.3 A notice under this document is given in writing, by hand or by email, to the address given for the other party above.

Personal data

This notice is given under the Digital Personal Data Protection Act, 2023.

The names, addresses, telephone numbers and email addresses in this document are collected for one purpose: recording and paying the refund of brokerage on the Transaction. The Client and the Broker each keep a copy of this record. It may be shown only to the parties and their accountants, and it will not be used for marketing.

If the engagement does not go ahead, the personal data in this document is kept for 90 days from that decision and then erased. If it goes ahead, this record is kept for the term of the engagement plus 12 months and then erased, unless a law requires a particular record to be kept longer.

Consent to the use of personal data in this document may be withdrawn at any time by writing to __________. A request to correct inaccurate data, to erase data once its purpose has ended, or to complain about how it has been handled may be sent to the same address, and will be answered within 30 days.

This document does not collect any Aadhaar number, PAN, bank-account detail or copy of an identity document.

Signatures

The Client
Signature: ________________________
Name: __________

The Broker
Signature: ________________________
Name: __________

Witnesses

Witness 1
Signature: ________________________
Name: ________________________
Address: ________________________

Witness 2
Signature: ________________________
Name: ________________________
Address: ________________________

Receipt of the refund

Received from the Broker the refund of __________ stated in clause 1.1. Where the refund exceeds five thousand rupees, a one-rupee revenue stamp is affixed here and signed across.

Signature of the Client: ________________________
Date: ________________________