Marine Listing Agreement
I/We (hereinafter referred to as Seller) hereby grant MacNaughton Associates, Inc. (hereinafter referred to as Brokers) an exclusive brokerage arrangement as described below, for the purpose of finding a buyer for Seller's vessel, described as a
The asking price for the Vessel shall be $____________ U.S. funds. Seller is the sole owner of the vessel, and has the right to negotiate terms for its sale. Of the two following options Seller has selected and initialled the one which best suits Seller's needs.
_____1. Seller agrees that if Seller is presented by Brokers with a bona fide offer of the asking price from any party with no conditions attached, Seller will accept that offer and do Seller's part to conclude the sale in a timely fashion.
_____2. While Seller understands that doing so may seriously restrict the Brokers' ability to market the vessel, Seller reserves the right to refuse to sell the vessel to any individual, even if they offer me the asking price, if they fail to meet the following criteria:
Seller authorizes Brokers to advertise Seller's vessel for sale, and to make information on the vessel available to their co-brokerage associates for them to advertise at their option. Seller agrees to make the vessel available for inspection by prospective buyers, their representatives, or surveyors subject to the following conditions, if any:
In the event that Brokers or their co-brokerage associates provide the initial contact with a party who purchases the vessel, by advertisement, mailing, or word of mouth, I agree to pay MacNaughton Associates ten percent of the selling price, not the asking price, at the time of closing. If Seller finds a buyer for the vessel through Seller's own efforts, Seller can notify Brokers of this fact and then complete the sale without owing a commission. However, in the event that the buyer has obtained information from both Seller and Brokers prior to negotiating the sale price of the vessel, or if there is any other reason to believe that Brokers have influenced the party to purchase the vessel, Seller will allow Brokers to complete the sale and collect the commission.
There is no expiration date for this agreement. It can be terminated at any time by the Brokers, and Seller can terminate it at any time upon written notification to the Brokers. However, if within a period of one year from the date Seller terminates the agreement Seller sells the vessel to any party with whom the Brokers have made contact or influenced as described above, Seller will pay the Brokers the commission described above at the date of closing. In the event that Seller engages in any contract with another broker for the purpose of selling the vessel Seller will immediately notify Brokers of this fact, with the understanding that this would probably necessitate termination of this agreement.
MacNaughton Associates, Inc., agrees to market the vessel in as fair and accurate a manner as possible, to present to the owner all offers made on the vessel without prejudice, to arrange inspections subject to the above mentioned conditions, if any, and to produce the appropriate documents for transfer of ownership in the event of a sale.
for MacNaughton Associates, Inc. Date