GENERAL TERMS AND CONDITIONS OF BUSINESS IN INTERMEDIATION IN TRADE AND LEASE OF REAL ESTATE OF THE COMPANY „NAI atrium d.o.o.“

Belgrade, 01.06.2015

1.            GENERAL PROVISIONS

This General terms and conditions of business of the Company „NAI atrium d.o.o.“ (hereinafter referred to as: the Intermediate), and in accordance with the Article 28 of the Law on mediation in real estate and leasing (“Official Gazette of RS, No.: 95/2013”) (hereinafter referred to as: the Law), regulates the business relation between the Intermediate in trade and lease of real estate –Intermediate and the Principal (natural or legal person) and other issues concerning said relation.

By concluding the Agreement on intermediation the Principal agrees to accept, i.e. that he is familiar and concordant with the provisions of Intermediates General terms and conditions of business in intermediation in trade and leasing of real estate

Intermediation is conducted on the basis of Agreement on intermediation in trade i.e. lease of real estate, which it is concluded between the Principal and the Intermediate.

The Principal can be seller, purchaser, lessor or lessee, i.e. proxy of one of said persons.

Agreement on intermediation is concluded in written i.e. electronic form, in accordance with law that governs electronic trade.

Agreement on intermediation, in addition to rights and obligations of the parties particularly contains information on the intermediate, number under which he is entered in the Register, Principal, type and important elements of the legal work which is conducted, purpose of conclusion of the contract, amount, manner and term of paying the intermediate remuneration, term of the contract, type and amount of additional costs, in case additional costs are agreed.

The Principal can have more than one Agreement on intermediation with more than one intermediate at the same time, except in case of exclusive intermediation.

In the event that the Principal inspected the subject property, through another intermediary or alone, before the Intermediate has shown the same to him, he is obliged to inform the Intermediate about that, in order not to duplicate the inspection, and in order to avoid potential disputes between the Principal and Intermediate and other intermediaries with each other, and in case he fails to do so it will be considered that the real estate is first inspected through the Intermediate.

In the event that the Intermediate brings into connection with the Principal (the Seller / Lessor) a person who has already inspected the subject property, he will be obliged to inform the Intermediate about this in order to avoid potential disputes between the Principal and Intermediate and other intermediaries to each other, and in case he fails to do so, it will be considered that the Principal was firstly brought into connection with a potential Purchaser / Lessee through the Intermediate.

2.OBLIGATIONS OF THE INTERMEDIATE WHEN PERFORMING INTERMEDIATION, RIGHTS OF THE INTERMEDIATE WHEN PERFORMING INTERMEDIATION, EXCLUSIVE INTERMEDIATION, ANONYMOUS PRINCIPAL, AUTHORIZATION FOR THE CONCLUSION OF THE CONTRACT / PRELIMINARY CONTRACT, OBLIGATIONS OF THE PRINCIPAL AND ADVERTISING

2.1.Obligations of the Intermediate when performing intermediation

  • Try to find and bring into connection with the Principal a person (natural/legal) for the purpose of concluding work that is the subject of the intermediation
  • Give the Principal objective opinion about the price of real estate or the amount of rent of real estate in accordance with its characteristics, market conditions, and other relevant circumstances;
  • Inspect the documents evidencing the right of ownership or other real rights on real estate whose trade or lease is the subject of mediation, and warn the principal in particular to the potential risks related to registration of the subject property in the registers of real estate, registered rights or encumbrances to the subject property, the existence of pre-emption rights and restrictions on legal transactions in accordance with special regulations;
  • To deal with the presentation of the real estate in the market;
  • Put an advertisement in connection with trade or lease of real estate appropriately and execute other actions agreed by the Agreement on intermediation that exceed the usual presentation, and for what he is entitled to specific, pre-recorded costs;
  • To enable the inspection of the real estate;
  • Keep the personal data on the Principal, and in written request of the Principal, data on real estate which is the subject of intermediation of trade and lease, or in connection with the subject real estate or in connection with the business of intermediation,  as a business secret;
  • To inform the Principal on all circumstances known to him important for the subject business;
  • To intermediate in negotiations and to strive to conclude the contract.
  • To keep record on intermediation and sub intermediation.

It is considered that the Intermediate has enabled the Principal the connection with other person (natural or legal) in negotiation for conclusion of legal business, if the Principal was enabled a connection with other person with whom he negotiated on conclusion of legal business, an especially if Intermediate:

 

  • Directly took the Principal or third party or addressed them to inspection of the real estate;
  • Organized a meeting between the Principal and the third party (or his representative - attorney, relatives, etc.) in order to negotiate for the conclusion of the legal work;
  • Stated a name, phone number, fax number or e-mail address of a third party to the Principal, interested in concluding a legal work, or if Intermediate stated an exact location of the requested real estate.

2.2. Rights of the Intermediate when performing intermediation

Intermediate has the right to, with consent of the Principal (Seller/Lessor), take photographs or make videos for the real estate for which the Agreement on intermediation was concluded. Photos or videos that were made, the Intermediate can use in purpose of presentation of the subject real estate to the potential Purchaser/ Lessee, advertising of the real estate on his web page or by placing an add on the internet, and in business/promotional purpose, in terms of advertising his business on the internet or in other form.

Intermediate has the right to conclude an Agreement on sub intermediation in written or electronic form, with which Agreement he will in total or in part transfer his rights and obligations from the Agreement on intermediation on other intermediate, if the Principal agreed with this in the Agreement on intermediation. Intermediate is obliged to give the Principal the Agreement on sub intermediation in three days from the day of concluding that agreement. The Intermediate has the right to issue an invoice to the Principal for service rendered in accordance with concluded Agreement on intermediation and this General terms and conditions of business.

2.3. Exclusive intermediation

Principal can be obliged by explicit contracting of exclusive intermediation clause that he will not in contracted time period personally alienate the real estate which is subject of Agreement on intermediation, nor he will engage other intermediate for intermediation concerning its trade.

If the Principal concludes a legal business concerning the subject real estate in the time period for which the exclusive intermediation clause is contracted, with intermediation of other intermediate, or personally, without intermediation of other intermediate, he is obliged to pay Intermediate the amount of contracted intermediation fee, as a compensation of damages.

Intermediate is obliged to especially warn the Principal on meaning and legal consequences of the exclusive intermediation clause in the Agreement on intermediation.

2.4. Anonymous principal

Intermediate can perform works of intermediation for principal which wants to remain anonymous. When performing this kind of intermediation, the Intermediate is obliged not to reveal the Principals identity, in accordance with the Agreement on intermediation, until the time of conclusion of legal business for which intermediation is performed at the latest.

Anonymous principal clause has to be explicitly contracted.

2.5. Authorization for the conclusion of the contract / preliminary contract

Intermediate can, when explicitly authorized by the Principal, to in the name and for the account of the Principal conclude a preliminary contract, i.e. contract on trade of the real estate or contract on lease of the real estate.

Said authorization is specially issued in form prescribed by law.

2.6. Obligations of the principal

 

  • To inform the Intermediate on all circumstances important for performing intermediation:
  • To provide the Intermediate insight into original documents which prove his right on the real estate which are subject of the trade, i.e. to warn Intermediate on all entered and not entered encumbrances which exist on the real estate;
  • To provide the Intermediate and the person interested for conclusion of legal business with inspection of the real estate in agreed way and in agreed time;
  • To inform Intermediate on all important information on the real estate, which especially includes correct information on the price, location, structure etc.;
  • To pay the Intermediate the agreed intermediation fee when the contracted trade is realized and in other cases prescribed these General terms and conditions, and if it is specially agreed upon, other expenses that occurred during intermediation;
  • To inform the Intermediate in written way about all the changes concerning the work that is the subject of intermediation, and especially on changes concerning rights on the real estate, deadlines and price, all in the time period of three days from when the change occurred;
  • To submit to the Intermediate verified copies of all documents which prove the right of ownership on real estate which is subject of intermediation, at the moment of conclusion of legal work which it was intermediated for preliminary contract or main contract in relation to trade or lease of real estate.

2.7. Advertising

The intermediate is obliged, when advertising in relation with sale or lease of real estate which is the subject of mediation, in the media, in his business premises or in other places where advertising is allowed in connection with trade or lease of real estate, in addition to information about his business name and number under which it was entered in the Register, publish information on price, location, surface and structure of real estate.

The advertising for real estate for which the intermediate has not signed an intermediation contract, or contract of sub intermediation is prohibited.

3. EXERCISE OF RIGHT ON INTERMEDIATION FEE

The Intermediate acquires the right to an intermediation fee in the conclusion of the Agreement for whose conclusion is mediated, unless the Intermediate and the Principal did not agree that the right to acquire an intermediation fee is acquired at the time of the conclusion of the preliminary contract for which was intermediated by the Intermediate.

The Intermediate may not claim partial payment of intermediation fee in advance, i.e. before the conclusion of the Preliminary Contract or Contract, for which is mediated in accordance with the preceding paragraph.

The amount of the intermediation fee, i.e. the way of determining the amount of intermediation fee and the type and amount of expenses for additional services of the Intermediate is determined by the Price list of the intermediation services which is an integral part of these General terms and conditions.

The expenses of acquiring needed documentation by which the property on real estate is proved (excerpt from the Cadaster register, etc.), and which is needed for trade of the subject real estate are bared by the Principal, if it is not differently agreed in the Agreement on intermediation.

Intermediate can contract the right on the compensation of additional costs that were necessary for execution of order, regardless of the success of intermediation, and ask for a previous payment of the funds determined for certain expenses if it is explicitly stated in the Agreement on intermediation.

Intermediate is not obliged to return the paid intermediation fee (in the event of termination of Contract, Preliminary contract, withdrawal of one of the contracting parties and the like), except when it is differently agreed by the Agreement on intermediation.

4. LIABILITY FOR DAMAGE

Intermediate is not liable for execution of obligations of either of the contracting parties in trade, which were agreed upon in concluded Contract, i.e. Preliminary contract.

Intermediate is not liable for quality of the real estate that is the subject of trade, nor for the hidden flaws, except in the event when the Principal informed him about hidden flaws in written form, and he hid that information from the buyer.

5. TERMINATION OF THE VALIDITY OF CONTRACT ON INTERMEDIATION

Agreement on intermediation is valid to the moment of concluding a Contact on sale/purchase/lease of the real estate between the Principal and the person Intermediate brought him into connection, or if one of the parties terminates the Agreement before the conclusion of Contract on sale/purchase/lease.

Termination of the Agreement on intermediation does not have to be explained, it can be given in any time (except when exclusive intermediation is in question, when term of the agreement is important element of the agreement) and it has legal effect in period of 30 days from the moment of delivering it to the other party.

6. FINAL PROVISIONS

On relations between Principal and Intermediate which are not regulated with Agreement on intermediation, nor determined with these General terms and conditions, provisions of Law on mediation in real estate and leasing, other regulations that regulate this field and Law on torts and damages.

7. AMOUNT OF THE INTERMEDIATE FEE

PRICE LIST FOR SERVICES

Price List of intermediate fees for performed intermediation in buying, selling, replacing, lease and leasing of real estate

  • Lease Transactions          15 % of an Annual Rent plus VAT
  • Sale Transactions             3 % of the Purchase Price plus VAT

TYPE AND AMOUNT OF EXPENSES FOR ADDITIONAL SERVICES

  • Property Valuations for apartments below 100m2 – 150 EUR
  • Property Valuations for apartments equal or above 100m2 – 300 EUR
  • Property Valuations for other than apartments – 0,50 EUR/m2
  • Marketing Services, such as conception of marketing campaigns, creation of websites, catalogues and similar – 90,00 EUR/hour
  • Preparation of Lease and Sales Agreements - 180,00 EUR/hour
  • Providing professional help in connection with making of preliminary contracts, contracts and other necessary documentation 180,00 EUR/hour
  • Organization of verification of preliminary contracts or contracts on selling the real estate before public notary – 180,00 EUR/hour
  • Gathering necessary documentation for verification of preliminary contracts or contracts on selling real estate before a public notary – 250,00 EUR

All fees and expenses are subject of Value Added Taxes at the rate valid on the day of issuing the invoice.