Before the agent can market your property, they must sign a contract with you, called an agency agreement. An agency agreement is a legally binding contract and it is important that you read and understand it.
In order to have a valid contract in North Carolina, there must be an offer, an acceptance, along with consideration. The parties must also have the capacity to enter into the contract.
The Commission has written an article on seller subagency compliance here. 5. Does the written buyer agreement need to be an agency agreement? Yes, in North Carolina brokers may not undertake to provide any brokerage services without an agency agreement.
Commission Rule 58A . 0104(a) has long required brokers to enter into written agency agreements. Listing agreements must be in writing and signed by the broker and client at the time their agency relationship is formed.
A buyer's agency agreement is a written contract that creates a working relationship between you, as a potential home buyer, and the buyer's agent you'd like to work with. Sellers sign a similar contract, known as a listing agreement, with their listing agent.
Contracts like an artist agreement help avoid miscommunications and confusion over the rights and responsibilities of both parties involved. Artist agreements typically include availability expectations, performance markers, and licensing or ownership rights of the works created during the partnership.
Artist contracts usually include details regarding payment terms, compensation rates, royalties, and commissions. A contract also protects the intellectual property of the artist and may include rights to license, use, and exhibit the artwork or performance created.
To write a simple contract, title it clearly, identify all parties and specify terms (services or payments). Include an offer, acceptance, consideration, and intent. Add a signature and date for enforceability. Written contracts reduce disputes and offer better legal security than verbal ones.
The “Artist's Contract,” or “The Projansky Agreement,” as it is known in art and legal circles respectively, is a model contract for artists to use when selling their work or transferring ownership. Its most enduringly controversial aspect is the inclusion of an artist's resale royalty.
To help you get started, take a look at a few basic components to include in your contract so you can better protect your art business. Client Info. Project Info and Terms. Project Timeline. Costs and Payment Terms. Itemization. Artist's Rights. Cancellation Terms. Acceptance of Agreement.