§ 5-20.6-10 - Client representation contract – Minimum requirements. - Rhode Island Statutes

SECTION 5-20.6-10

   § 5-20.6-10  Client representation contract– Minimum requirements. – (a) If a seller, buyer, landlord, or tenant and principal broker elect to enterinto a client representation contract, the contract shall meet the followingrequirements:

   (1) Be an express, written contract;

   (2) Include terms of compensation;

   (3) Describe all services and limitations on services to beperformed by the principal broker and his or her affiliated licensees;

   (4) State that a principal broker may appoint one or moreaffiliated licensees to act as the designated client representative(s) for aseller or landlord and one or more affiliated licensees to act as thedesignated client representative(s) for a buyer or tenant in the sametransaction after a licensee has obtained consent from the client beingrepresented; and

   (5) Be signed by all parties.