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Current as of January 01, 2024 | Updated by Findlaw Staff
If a seller, buyer, landlord, or tenant and principal broker elect to enter into a client representation contract, the contract shall meet the following requirements:
(1) Be an express, written contract;
(2) Include terms of compensation;
(3) Describe all services and limitations on services to be performed by the principal broker and his or her affiliated licensees;
(4) State that a principal broker may appoint one or more affiliated licensees to act as the designated client representative(s) for a seller or landlord and one or more affiliated licensees to act as the designated client representative(s) for a buyer or tenant in the same transaction after a licensee has obtained consent from the client being represented; and
(5) Be signed by all parties.
Cite this article: FindLaw.com - Rhode Island General Laws Title 5. Businesses and Professions § 5-20.6-10. Client representation contract--Minimum requirements - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-5-businesses-and-professions/ri-gen-laws-sect-5-20-6-10/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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