Welcome at Dubai Development the Realty Broker for German

Dubai Investments + Developments

General Terms and Conditions 1. Quote Our quote is based on the information obtained from the seller / lessor or any third parties respectively. We cannot assume liability for the correctness or completeness of this information. 2. Disclosure of information Our quotes and information are addressed solely to the offeree. If this information is passed on to any third parties without our consent, the offeree will pay to Herberich Immobilien the due commission following the signing of a main agreement by the third party. 3. Prior knowledge If the offeree has prior knowledge of the sale or rental of a property introduced by us, the offeree is obliged to inform us in writing without delay and within 8 days at the latest. 4. Activities on behalf of the other contracting party The company Herberich Immobilien has the right to undertake activities subject to commission for the other contracting party. 5. Entitlement to a commission Herberich Immobilien is entitled to a commission from the moment on when based on its referral or agency a main contract is being signed with regard to a property identified by us. An indirect causality of our activities is sufficient. If the signed main contract contains other provisions than offered originally, or if it is concluded for another property owned by the contracting party identified by us, this does not affect our entitlement to a commission, as long as the resulting business activity is economically identical with the business activity offered by us or its economic success differs only marginally from the business activity offered by us. The eventuation of any cancelling condition stipulated in the main contract does not affect our entitlement to a commission. The same is true if the main contract is cancelled by exercising any stipulated right of withdrawal, as long as it is being exercised on the grounds of any decisions originating in any of the contracting parties or on any grounds that lie within their responsibilities. The entitlement to a commission is not affected in the case of subsequent ineffectiveness of the main contract on the basis of grounds that lie not within the area of accountability of the real estate agent. 6. Due date of a claimed commission Any commission claimed by us is due upon signing of the main contract. Commissions are payable within 30 days after date of invoice without any deductions. Any payment delays are subject to interest on arrears of 5% annually above the base rate. If the main contract is signed not in our presence, the customer is obligated to inform us without delay on the essential contents of the main agreement so that the due commission can be calculated. The customer is obligated to provide us with a copy of the main contract if requested by us. 7. Commission rate For our activities, the following commission rates are considered to be agreed upon between the customer and Herberich Immobilien and are payable by the customer to Herberich Immobilien when the commission claim becomes effective as per paragraph 5 above. The calculation of the commission is based on the following definitions: a) Purchase For purchased land the commission is calculated on the basis of the agreed total purchasing price and all additional services related to it as 5% of any value up to EUR 5 millions, 4% of any value between EUR 5 millions and EUR 25 millions, and 3% of any value exceeding EUR 25 millions and is to be paid by the customer to Herberich Immobilien. b) Rent and lease - for rental and leasing contracts with a validity of under 10 years, the commission is 2.5 gross monthly rents payable by the customer. - for rental and leasing contracts with a validity of 10 years and more, the commission is 3 gross monthly rents payable by the customer. - For contracts covering options-even when exercising them is still uncertain-with regard to surface area or term, or, respectively, for pre-rental agreements independent of the agreed fixed term and of the above mentioned commission rates, the commission is increased by one additional gross monthly rent payable by the customer. - As a calculation basis for the commission amount on gross monthly rents with an automatic annual increase, in compliance with the above provisions, an average gross monthly rent over the total fixed term of the rental contract is calculated. - When calculating the gross monthly rent, time periods during which no rent or only a reduced rent are to be paid will not be adjusted. - The above provisions are also valid upon completion of a lease contract. c) Initiating joint ventures between real estate developers, builders and investors The commission rates in paragraph 7a apply on a pro rata share in the project development. The above mentioned commission rates are understood net without the current legal rate of VAT. 8. Follow-up business Herberich Immobilien is also entitled to a commission when other contractual agreements follow out of the temporal and economic context of the first contract. 9. Place of fulfilment and jurisdiction Contracts are governed by German law. The place of fulfilment and jurisdiction is Wiesbaden. 10. Partial invalidity The invalidity, illegality or unenforceability of a provision of these general terms and conditions shall not affect the validity, legality of enforceability of any other provision of these general terms and conditions. Instead of any invalid, illegal or unenforceable provision, the legal provisions will apply.