BROKERAGE LISTING AGREEMENT

BROKERAGE LISTING AGREEMENT

(Malaysia – Non-Exclusive Listing)

PARTIES AND KEY INFORMATION

OWNER

BROKER 

Platinum Yachts Sdn Bhd
Company No.: 202301051386 (154300-V)
Address: No.3, 10th Mile Federal Highway, Jalan SS 7/2,
47300 Petaling Jaya, Selangor Darul Ehsan, Malaysia.
Email: ptheseira@platinumyachts.com.my
Telephone: +6012 298 3533

VESSEL DISCLOSURE FORM

(To be completed by Owner)

ASKING PRICE

The Owner hereby authorises the Broker to offer the Vessel for sale at an Asking Price of:

No other price shall be quoted without prior written authorisation from the Owner

TYPE OF LISTING

The Owner may appoint other brokers or sell privately, subject to the terms of this Agreement.

TERMS AND CONDITIONS

1.APPOINTMENT

1.1 The Owner appoints Platinum Yachts Sdn Bhd as broker to market and negotiate the sale of the Vessel.

1.2 The Owner warrants that:

• He/She/It is the legal and beneficial owner of the Vessel;
• The Vessel is free from all encumbrances unless declared;
• Full authority exists to sell the Vessel;
• All material defects have been disclosed.

1.3 The Owner indemnifies the Broker against claims arising from inaccurate or misleading information supplied by the Owner.

2.MARKETING AUTHORITY

The Broker is authorised to:

• Advertise the Vessel in print and digital media;
• List the Vessel on brokerage platforms and partner networks;
• Share specifications, photographs and technical details;
• Cooperate with sub-brokers (commission sharing at Broker’s discretion).

Marketing costs beyond standard listing (professional photography, video production, overseas boat shows, etc.) shall be borne by the Owner unless otherwise agreed in writing.

3.OWNER’S OBLIGATIONS

The Owner shall:

• Maintain valid insurance covering third-party liability, sea trials and surveys;
• Provide full access to the Vessel for inspections;
• Notify Broker immediately if Vessel is withdrawn or sold elsewhere;
• Keep the Vessel in presentable and saleable condition;

4.COMMISSION

4.1 Commission Rate:

The Owner agrees to pay the Broker a commission of:

10% of the final agreed gross sale price

4.2 Commission shall be payable if during the term of this Agreement:

• The Vessel is sold to a purchaser introduced by the Broker;
• The Broker conducted negotiations with the purchaser;
• The sale is concluded within 12 months after termination to a purchaser introduced during the listing period.

4.3 Commission becomes due and payable upon completion of sale.

4.4 If a purchaser introduced by the Broker is ready, willing and able to purchase at the Asking Price (or agreed price) and the Owner refuses to proceed, full commission shall remain payable.

4.5 In the event of purchaser default and forfeiture of deposit, the Broker shall be entitled to 50% of the commission from the forfeited deposit.

5.CLIENT MONIES

All deposits received shall be held in a designated client account maintained by Platinum Yachts Sdn Bhd in accordance with Malaysian commercial practice.

The Broker may deduct commission and agreed expenses directly from sale proceeds prior to remittance of balance to Owner.

6.NON-EXCLUSIVE NATURE

This is a non-exclusive listing.

However, commission remains payable if the purchaser was introduced or negotiated by the Broker during the term.

7.WITHDRAWAL

If the Vessel is withdrawn from sale during the minimum term without valid reason, the Owner shall reimburse all agreed marketing expenses incurred.

8.NO CUSTODY

The Broker does not assume custody, care, control or management of the Vessel. Responsibility remains with the Owner.

9.TERMINATION

After the minimum 180-day period, either party may terminate by giving 30 days’ written notice.

Termination does not affect commission entitlement under Clause 4.

10.LIMITATION OF LIABILITY

The Broker shall not be liable for:

• Latent defects;
• Loss, damage or deterioration of the Vessel;
• Acts or omissions of third parties;
• Economic loss beyond commission value.

Broker liability, if any, shall not exceed the commission received.

11.CONFIDENTIALITY

All negotiations, offers and documentation shall remain confidential unless disclosure is required by law.

12.GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of Malaysia.

13.DISPUTE RESOLUTION (ARBITRATION – MALAYSIA)

Any dispute arising out of or in connection with this Agreement shall be referred to and finally resolved by arbitration in Malaysia in accordance with the Arbitration Act 2005 (Malaysia).

• Seat of arbitration: Kuala Lumpur, Malaysia
• Language: English
• Number of arbitrators: One (1)

The arbitral award shall be final and binding on both parties.

OWNER DECLARATION

I/We confirm that the information provided is true and correct to the best of my/our knowledge and that I/we agree to the Terms and Conditions of this Brokerage Listing Agreement.