GENERAL TERMS OF BUSINESS

I GENERAL PROVISIONS

These general terms of business of 'PALACE REAL ESTATE d.o.o' (Agent), MB: 21879380, PIB: 113506261, license number: 1615, in accordance with Article 28 of the Law on Real Estate Brokerage and Leasing ('Official Gazette RS', no. 95/2013, 41/2018, and 91/2019), regulate the business relationship between the Agent and the Client (individual or legal entity).

II OBLIGATIONS OF THE AGENT

The Agent undertakes to:

• Sign a written brokerage agreement with the Client;
• Endeavor to find and connect the Client with a party for the conclusion of a legal transaction;
• Provide the Client with an objective opinion on the value of the property or rental amount based on its characteristics, market conditions, and other relevant circumstances;
• Review documents proving ownership or other real rights on the property subject to brokerage and warn the Client of potential risks related to the property’s registration, existing rights, encumbrances, or pre-emption rights;
• Take the necessary actions to present the property on the market, publish advertisements regarding its sale or rental, and perform all other actions agreed upon in the brokerage agreement;
• Enable the viewing of the property;
• Protect the Client's personal data and, at the Client's written request, treat information about the property or transaction as a business secret;
• Inform the Client about all circumstances relevant to the transaction known to the Agent;
• Mediate in negotiations and endeavor to conclude an agreement;
• Be present during the signing of the legal transaction (pre-contract and contract);
• Be present during the handover of the property.

III OBLIGATIONS OF THE CLIENT

The Client undertakes to:

• Inform the Agent of all circumstances relevant to the brokerage activities;
• Provide the Agent with original documents proving ownership or other real rights on the property;
• Ensure the Agent and interested parties can view the property at agreed times and conditions;
• Provide the Agent with all important data about the property, including accurate information about price, location, structure, etc.;
• Pay the agreed brokerage fee to the Agent;
• Inform the Agent in writing of any changes related to the brokerage transaction, especially those regarding property rights, deadlines, and price, within three days of such changes;
• Immediately inform the Agent if a party who viewed the property through the Agent expresses interest in concluding a contract or pre-contract without the Agent.

IV EXERCISING THE RIGHT TO A BROKERAGE FEE

The Agent is entitled to a brokerage fee at the time of concluding the contract for which they mediated. The Agent cannot demand partial payment of the fee in advance or before concluding a pre-contract or contract.

V LIABILITY FOR DAMAGES

The Agent must act with due diligence in performing brokerage activities. The Agent is liable to the Client for damages caused by failure to fulfill contractual obligations.

VI TERMINATION OF THE BROKERAGE AGREEMENT

The brokerage agreement specifies the period for which it is concluded. If not otherwise agreed, the agreement is considered concluded for a period of one year.

VII GENERAL PROVISIONS

Relations between the Client and the Agent not regulated by these general terms of business or the brokerage agreement shall be governed by the applicable laws.