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Service Agreement

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OREC BUYER BROKER SERVICE AGREEMENT

OKLAHOMA REAL ESTATE COMMISSION

This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.

1. Purpose of Brokerage. Buyer desires to purchase, lease, option or exchange (collectively “Purchase”) real estate through the services and resources of the Broker. Broker’s services may include, but not be limited to, consulting with Buyer regarding particular properties and the availability of financing; formulating acquisition and purchase agreements and receiving delivery of any offers made by Buyer and accepted by Seller.

Note: If this form is used as part of a lease or rental transaction, the term “Seller” shall be deemed to mean “Landlord”, and the term “Buyer” shall be deemed to mean “Tenant”.

2. Buyer’s Acknowledgement.

a. Buyer represents that Buyer has not signed a written brokerage agreement currently in force with another Broker.

b. Buyer is not relying on Broker to determine the suitability of any desired property for the Buyer’s purposes or regarding the environmental or other condition of the desired property. Broker shall not be obligated to discover latent defects in the desired property or to advise on matters outside of the scope of his/her real estate license. Broker does not make any representation or warranty with respect to the advisability of, or the legal effect of, any transaction contemplated by Buyer. Broker shall cooperate fully with any legal counsel of Buyer’s choice. Broker is not an expert in matters relating to law, tax, financing, surveying, structural condition, hazardous materials, engineering or other highly specialized areas. Broker hereby advises Buyer to seek professional advice relating to these matters.

3. Duration of Agreement. This Agreement is entered into this day of , 20 . This Agreement shall expire on the day of , 20 . This Agreement may be canceled only by the mutual consent of the parties in writing. Buyer agrees during the term of this Agreement, any and all inquiries and/or negotiations relating to the acquisition by the Buyer of any desired property shall be through the undersigned Broker.

4. Compensation of Broker. Broker shall be compensated in the following manner:

(initial only those paragraphs which apply)

     a. By acceptance of the amount of compensation offered by a Listing Broker or the Seller.

     b. Buyer shall pay the Broker, at closing, an amount equal to $ or % of the gross selling price. Buyer shall receive a credit towards the payment of Broker’s compensation in an amount equal to any payment made to the Broker by any other Broker or the Seller.

     c. Buyer shall pay Broker a retainer fee of $ due and payable upon execution of this Agreement, which amount shall be applied towards Broker’s compensation upon closing on a transaction in which Buyer acquires Property. In all other circumstances, the payment shall be considered as a non-refundable retainer fee earned by the Broker.

     d. Other:

Unless otherwise specified above, the compensation is due and payable upon Closing. The compensation shall apply to any purchase agreements executed during the term of this Agreement, or during any extension of this Agreement. The compensation will also apply to purchase agreements executed within days (or 90 days if left blank) after the expiration or other termination of this Agreement, if the property acquired was presented to Buyer through the services of Broker. If Seller fails to close with no fault on the part of Buyer, the compensation shall be waived. If the transaction does not close due to a breach of the Contract of Sale by the Buyer, the compensation shall NOT be waived and shall become immediately due and payable.

5. Cost of Services or Products Obtained from Outside Sources. Broker will not obtain or order products or services from outside sources (e.g., surveys, soil tests, title reports, inspections) without the prior consent of Buyer, unless provided by the Contract of Sale, Lease, Option or Exchange of Real Estate. Buyer agrees to pay all costs for products or services so obtained. Broker shall not be obligated to advance funds for Buyer.

6. Brokerage Relationship. Buyer and Broker confirm that prior to signing this Agreement, both Buyer and Broker understand, agree and confirm the Brokerage Relationship selected below:

Transaction Broker Disclosure

Single-Party Broker Disclosure

7. Other Buyers. Buyer understands that other buyers may consider, make offers, or purchase through Broker the same or similar properties as Buyer is seeking to acquire. Within the same company, the Broker and their associated licensees including the licensee assisting you, often provide brokerage services to more than one buyer at the same time.

8. Equal Opportunity. Properties shall be shown and be made available to Buyer without regard to age, race, color, religion, sex, handicap, familial status, national origin or as may be provided by local, state or federal laws or regulations.

9. Additional Provisions.

10. Counterparts. If more than one person is named as Buyer herein, separate conforming Agreements may be executed by each Buyer individually, and when so executed, such copies taken together shall be deemed to be a full and complete agreement between the Parties.

11. Copy of Agreement. Buyer acknowledges receipt of (a) a copy of this Agreement, (b) a copy of the Disclosure regarding Real Estate Brokerage Relationship and (c) that a Oklahoma Uniform Contract Information Pamphlet has been made available to Buyer.

Executed by Buyer this day of , 20 .

Buyer’s Address:

Buyer’s Telephone (Home) (Work) (Cell)

Buyer (Print)

Buyer (Signature)

Buyer (Print)

Buyer (Signature)

Executed by Broker this day of , 20 .

Broker (Company)

Selling Broker/Associate (Signature)

Telephone

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What a Service Agreement Is and Why It Matters

A Service Agreement is a written contract that defines the terms governing the delivery of services between a provider and a client. It typically specifies scope of work, deliverables, payment schedule, performance standards, confidentiality obligations, warranty disclaimers, termination conditions, and dispute resolution. For U.S. transactions, these agreements may reference a governing state law and can be executed electronically under ESIGN and UETA where applicable. Clear, complete Service Agreements reduce ambiguity about responsibilities, allocate risk, and establish the criteria used to measure satisfactory performance and payment.

Why a Clear Service Agreement Protects Both Parties

Service Agreements provide legal clarity on deliverables, pricing, timelines, and remedies. They protect both parties by documenting expectations, limiting liability where appropriate, and creating enforceable obligations that can be relied on in disputes or audits.

Why a Clear Service Agreement Protects Both Parties

Who Typically Prepares and Signs Service Agreements

Common users who prepare or sign Service Agreements include legal counsel, procurement teams, independent contractors, and client account managers.

  • Legal departments and attorneys — review terms, ensure compliance, and manage risk allocation.
  • Procurement and operations — standardize service levels, track renewals, and centralize approvals.
  • Independent consultants and small vendors — document scope, fees, and invoicing to avoid payment disputes.

Understanding who completes and who signs the document helps assign authority and speeds review cycles within organizations.

Core Clauses Found in a Professional Service Agreement

Core clauses and operational elements commonly included in Service Agreements ensure enforceability, define performance expectations, and allocate financial and legal responsibility between parties.

Parties

Identify full legal names and business types for each party, including authorized signatory names and contact details; mismatched names can cause enforceability or tax reporting issues.

Scope of Work

Describe services, deliverables, milestones, acceptance criteria, and any excluded tasks; attach schedules or exhibits to avoid disputes about what the provider must deliver.

Payment Terms

Specify fees, invoicing cadence, payment method, currency, taxes, and any retainers or milestone-based payments to prevent billing disputes and collection delays.

Term & Termination

State the effective date, fixed or evergreen term, renewal mechanics, termination rights, notice periods, obligations upon termination, and any transition assistance required.

Confidentiality

Define confidential information, permitted disclosures, duration of obligations, required safeguards, and any carve-outs for compelled disclosure by law.

Liability & Indemnity

Include limitations on liability, indemnity scope, insurance requirements, caps or exclusions, and alignment with applicable regulatory obligations and client risk tolerances.

Step-by-Step: Completing a Service Agreement

Follow these steps to complete a Service Agreement accurately and reduce the need for revisions after execution.

  • 01
    Prepare Document: Assemble clauses, exhibits, and required attachments before sending for review.
  • 02
    Identify Parties: Enter full legal names, entity types, and authorized signers.
  • 03
    Set Terms: Clarify scope, fees, milestones, and termination provisions.
  • 04
    Execute & Store: Obtain signatures, generate audit trail, and save final PDF.

Typical e-Signing Flow for a Service Agreement

A typical e-signature route for Service Agreements moves documents from creation through signing to storage with an audit trail preserved for compliance.

  • Upload Document: Add PDF or DOCX and name versions.
  • Place Fields: Insert signature, date, and initial fields where needed.
  • Assign Signers: Enter emails, set signing order, and authentication.
  • Complete Signing: Signer authenticates, signs, and receives final copy.

Recommended Digital Workflow Settings

Configure a digital workflow to enforce approvals, strengthen authentication, and integrate the Service Agreement with downstream systems.

Workflow Field and Configuration Header Field | Configuration
Signer Authentication Method and Options Email link, SMS one-time passcode, or knowledge-based authentication as required.
Signature Routing Order and Approval Sequence Sequential or parallel routing; designate required approvers and alternates for continuity.
Automatic Reminders and Link Expiration Settings Send reminders every three days and expire signing links after 30 days to reduce stale requests.
Document Retention and Export Options Export final PDF/A with embedded audit trail to cloud storage or CRM for retention and compliance.

Technical Considerations for Sharing and Integrations

Digital delivery methods and integrations determine how recipients receive, authenticate, and store signed Service Agreements.

  • Integrations: Salesforce, NetSuite, Microsoft 365, Google Workspace
  • File Formats: PDF, DOCX, HTML, Excel supported
  • Authentication: Email, SMS OTP, SSO, KBA options

Baseline Pricing and Feature Comparison for eSignature Providers

Compare baseline pricing and essential feature availability across common eSignature providers for executing Service Agreements.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes (bulk send available) Yes Yes Yes Varies by plan
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Practical Examples of Streamlined Agreement Execution

Real-world examples show how e-signature platforms streamline Service Agreement execution for businesses of varying size and regulatory exposure.

Optica Ventures (Brian Fitzgibbons)

Brian Fitzgibbons, COO at Optica Ventures, said the interface is simple and easy to use for the team and customers.

  • It reduced turnaround time on client agreements.
  • The team used the platform to standardize templates, reduce manual signature collection, decrease administrative overhead, and enable centralized tracking of renewals and contractual obligations across client accounts, which improved compliance and response times.

Martin Properties (Tim Martin)

Tim Martin, founder of Martin Properties, described processing and executing documents online with full compliance and built-in security.

  • He used mobile and offline capabilities.
  • Adopting digital workflows allowed the firm to close deals without in-person meetings, reduced time-to-execution, and ensured secure storage and audit trails for each agreement, supporting rapid tenant onboarding and remote transactions.

Security and Compliance Features to Expect

Encryption: TLS 1.2/1.3; AES-256 at rest
Audit Trail: Timestamped actions, IP, signer identity
Certifications: SOC 2 Type II; ISO 27001
PHI Protection: HIPAA-compliant with BAA option
Regulatory Compliance: ESIGN and UETA recognized
Accessibility: WCAG 2.0 Level AA support

Principal Risks When Agreements Are Incomplete or Incorrect

Contract Disputes: Litigation and monetary damages possible
Invalid Signature: Enforceability risk without clear consent
Tax Consequences: Incorrect reporting or withholding
Regulatory Violations: HIPAA or SEC exposure possible
Operational Delays: Payment disputes and project hold-ups
Reputational Harm: Client trust erosion

Common Preparation Errors to Avoid

  • Omitting or leaving the effective date blank creates ambiguity about when obligations begin, affecting payment schedules and statute-of-limitations calculations.
  • Imprecise service descriptions lead to scope creep, billing disputes, and mismatched expectations that often escalate into formal claims or termination notices.
  • A person who lacks authority may execute the agreement, risking unenforceability and requiring ratification or re-execution by an authorized officer.
  • Failing to state invoicing intervals, acceptable payment methods, or late fee provisions increases collection risk and can delay project milestones.

Key Dates to Track in a Service Agreement

Track critical dates in each Service Agreement to manage performance, renewals, invoicing, and legal obligations effectively.

Effective Date and Contract Term:

Records when obligations begin and when term ends.

Payment Due Dates and Invoicing Schedule:

List invoice frequency and net terms (e.g., NET 30).

Renewal Mechanism and Notice Periods:

Specify automatic renewal or opt-in, and required notice (commonly 30–60 days).

Termination Conditions, Remedies, and Notice:

Detail termination for cause, convenience, and any cure periods.

Record Retention, Access, and Distribution:

Outline how long executed agreements are retained and who can access them.

Milestone Sequence for Agreement Processing

Use a milestone sequence to track drafting, approvals, signing, and archival stages for each Service Agreement lifecycle.

01

Drafting Complete

Clause negotiation and internal review finished.

02

Legal Approval

Legal clears standard terms or flags redlines.

03

Signatures Obtained

All required signatories execute and dates recorded.

04

Archive and Notify

Save executed copy, export audit trail, notify stakeholders.

Typical Signatory Roles and Responsibilities

Brian Fitzgibbons, COO

As COO of a service provider, the role approves operational terms, coordinates legal review, ensures signatory authority, and oversees integration of executed agreements into internal systems for compliance and performance tracking.

Client Contract Manager

Manages incoming agreements, compares scope to purchase orders, raises redlines, verifies billing and renewal schedules, and coordinates sign-off with finance and legal to ensure timely payment and service delivery.

Practical Tips for Accurate and Efficient Completion

Adopt consistent templates, clear payment clauses, and standard signature blocks to reduce negotiation cycles and post-execution disputes.

Use a single master service agreement template
Maintain one vetted template with optional exhibits for projects; limit custom clauses to avoid inconsistencies and speed approvals. Have legal review standard terms annually to keep pace with regulatory and business changes.
Require authorized signer verification and access controls
Confirm signers have authority, document signatory titles, and use multi-factor authentication where appropriate; retain proof of authorization to reduce later challenges to signature validity.
Include clear payment and dispute resolution terms
Specify invoicing cadence, late fees, interest rates, payment methods, dispute escalation steps, and governing law to reduce collection delays and provide predictable remedies and litigation avoidance mechanisms.
Archive executed agreements with searchable metadata
Store final PDFs with audit trails, signer certificates, and indexed metadata such as parties, effective date, renewal dates, and payment schedules to simplify audits, compliance checks, and automated renewal workflows.

Frequently Asked Questions About Service Agreements

Answers to common questions about executing, signing, and storing Service Agreements, including e-signature validity, amendments, and retention guidance.


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