Brokers Role and Responsibility in Commercial Brokering Contracts in Saudi Law

Abstract

As trade and economic activities expand and spread in this era, the brokerage contract plays an important role in wealth trading and the exchange of goods and services in various trade, industrial, and other fields. A professional acquires the status of a merchant for this work, whether a natural person or a legal entity. The need for brokers and intermediaries continues to increase constantly due to their skills and expertise in bridging views and narrowing the gap between contractors, facilitating the conclusion of transactions. This underscores the impact of the broker's role on commercial and economic life and the necessity to develop laws governing their business, especially given the ambiguity in regulating this topic.  From this perspective, the present research examines the broker's role and responsibility by adopting a comparative and analytical descriptive approach. The research is structured into three chapters, aiming to investigate the broker's role and responsibility in performing the functions of the brokerage contract, preserving documents, ensuring implementation, and refraining from prohibited practices. The goal is to draw the most important findings and recommendations, which include recommending the standardization of brokering and real estate brokering procedures, harmonization between the business transaction system project and the real estate brokerage system, recommending the establishment of a private center for trade brokerage with independence and legal person status, and suggesting the addition of some important provisions.

Keywords

Brokerage, Intermediary, Commercial Contracts, Commercial Law, Saudi Law.

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