I certify that all the information submitted to Urban Real Estate Services Ltd., also known as URBAN-REALTY.CA,by me, for the commission advance on the real estate transaction is correct. I authorize URBAN-REALTY.CA to verify it prior to the advance.
2.Terms for advance
a) I assign my rights to the original commissions, in whole, to Urban-Realty.ca on the transaction I want to receive a commission advance from.
b) The commission advance amount will be repaid to URBAN-REALTY.CA through my commission or by myself within 10 days after the Possession date on the agreement.
c) The commission advance and the fee (as calculated below) will be deducted from my commissions as a repayment option. I will also be allowed to repay this amount by other sources such as cash, cheque, credit card or ETRANSFER.
d) The total amount, of the commission advance plus the fee,as calculated below, can be deducted from any of your real estate transaction with us, if for any reason:
- - Your transaction with commission advance has been delayed, cancelled or amended.
- - You will be liable to provide us with the information of delays or cancellations.
- - For the purpose of collections of the commission advance amount plus the fees, you understand that URBAN-REALTY.CA will be paid out first before any other deductions.
- - If you don’t have any other transaction with commissions enough to cover the commission advance plus the fee amount calculated, then you promise to make the payment to us for such amount through other sources. In failure of which we can pursue a legal action against you for the recovery.
3. Commission advance fees calculation
The advance forwarded to me would be charged a fee equal to and calculated at rate - $0.65 per one thousand dollars per day, starting from the effective date and lasting until URBAN-REALTY.CA receives the full repayment, plus 7 days.
(We strongly suggest to please use our calculator on the website for correct calculations.)
I understand this total amount would be deducted from my original commission in the transaction. I also agree that I will repay URBAN-REALTY.CA the amount calculated as advance plus the fee, by the repayment date, even if the original commission does not come through for whatever reason.
A commission advance application is subject to approval by URBAN-REALTY.CA. We may adjust the amount of commission advance at our discretion. You have the right to accept or reject it prior to getting the advance. Once approved and paid, this amount cannot become part of a dispute for our recovery and will be considered as the amount owed by you to us.
5. Other Fees
I understand that Urban-Realty.ca might incur additionallegal or collection fees for the purpose of pursuing its repayment. This will be added to the amount of your commission advance plus the regular fee.
These Terms & Conditions are subject to change without notice. This contract is governed by the laws of the Province of Alberta, and any dispute shall be finally resolved by Alberta courts.
I confirm and agree that the transaction I am taking the commission advance on, has not received or will receive a commission advance, from Urban-Realty.ca or from any other commission advance company apart form this.