C-73.2, r. 2 - Regulation respecting contracts and forms

Section 10 Disposition versions

2012-09-01

10. A brokerage contract made by an agency must include the following particular:

“If the broker mentioned in this contract as the AGENCY’s representative ceases to carry on brokerage activities for the agency to carry them on instead on his or her account or for another agency, (IDENTIFICATION OF THE AGENCY’S CLIENT) may elect to continue to do business with the broker or with the AGENCY in accordance with this contract, by sending the AGENCY a notice stating his or her choice not later than the day on which the broker ceases to carry on activities for the AGENCY.

If (IDENTIFICATION OF THE AGENCY’S CLIENT) elects to continue to do business with the broker, this contract is terminated on the date on which the broker ceases to carry on activities for the AGENCY. (IDENTIFICATION OF THE BROKER’S CLIENT) is then bound to the BROKER or other agency for which the BROKER now carries on activities, as the case may be, under the same terms and conditions as those provided for in this contract.

Should the notice required under the first paragraph not be sent, this contract is terminated.”.

“Except on contrary notice from (IDENTIFICATION OF THE AGENCY’S CLIENT), or should the broker mentioned in this contract as the AGENCY’s representative cease to carry on activities, if the AGENCY ceases to carry on its activities, this contract is terminated on the date on which the agency ceases its activities and (IDENTIFICATION OF THE BROKER’S CLIENT) is then bound to the broker now carrying on activities on his or her account or, as the case may be, to the agency for which the broker now carries on activities, under the same terms and conditions as those provided for in this contract.

In case of notice to the contrary or if the broker completely ceases his or her activities, this contract is terminated on the date on which the AGENCY ceases its activities.”.

O.C. 300-2010, s. 10.