Licensed Broker Clause Samples
The Licensed Broker clause establishes that any broker involved in the transaction must hold a valid and current license to operate in the relevant jurisdiction. This typically means that only brokers who are properly certified and in good standing with regulatory authorities can participate in facilitating the deal, whether it involves real estate, insurance, or other regulated industries. By requiring licensure, the clause ensures that all parties are protected by professional standards and legal oversight, thereby reducing the risk of fraud or misconduct.
Licensed Broker. Georgia Broker warrants that he/she is duly licensed with the Georgia Real Estate Commission as a real estate broker. Out-of-State Broker warrants that Out-of-State Broker is duly licensed in the Out-of-State Broker’s state of residence as a real estate broker and has provided to Georgia Broker evidence of such licensure. Out-of-State Broker shall promptly provide Georgia Broker with sufficient evidence of the active status of Out-of-State Broker’s license upon notice and a request for same from Georgia Broker.