Form 632, Identification Mandatary Agent Agreement

Comprehensive Guide to the Form 632 - Mandatary Agent Agreement

Form 632, also known as the Identification Mandatary Agent Agreement, is a crucial document used to confirm a legal identity for various transactions. This OREA form is primarily used by businesses to confirm the identity of a person acting on their behalf in a transaction, essentially granting them the power to perform certain roles.

The 632 form is designed to confirm in writing the legal identification of the individual who will perform specific functions on behalf of the firm. Legal authorities require it to avoid any sort of identity fraud or theft during any transactional process and to ensure legal binding.

Importance of form 632 in business transactions

Form 632 is a significant document for carrying out smooth and hassle-free business transactions. It plays a vital role in hiring an individual or third party to perform functions on behalf of a company without any legal complications. The agreement in the form ensures the individual's actions will be recognized as those of the business.

How to Fill Out Form 632

To fill out the Identification Mandatary/Agent Agreement, on the PDFliner website, follow these steps:

1. Start with the section titled "Identification Mandatary/Agent Agreement" at the top of the form. Enter the name of the Real Estate Brokerage and its principal office address in the spaces provided after "REAL ESTATE BROKERAGE".
2. Fill in the name and principal office address of the Identification Agent in the corresponding fields under "IDENTIFICATION AGENT".
3. Proceed to the section below, which starts with "The parties agree to the terms and conditions..." and fill in the effective date of the agreement where it says "as of ________, 20 (the 'Effective Date')".
4. In section 1 "Purpose", note that the information has been pre-filled. Read this section to understand the purpose of the agreement.
5. In section 2 "Services", you will see two subsections (a) and (b). Subsection (a) requires you to note that upon request, you will provide the identification services as described in the schedules to the Brokerage. Subsection (b) is where you enter the terms of compensation for these services.
6. For section 3 "Approvals and Authority", acknowledge that you will obtain the Brokerage’s prior written approval for all services performed on the Brokerage’s behalf.
7. Section 4 "Termination" outlines the conditions under which the agreement can be terminated. Read and understand this section, no input is required.
8. Section 5 "Indemnification" details the indemnity clause. Again, read and understand as no input is required here.
9. In section 6 "Confidentiality", and section 7 "Regulatory Compliance", read through the obligations and acknowledge the regulatory frameworks the agreement operates under.
10. Section 8 "Non-Assignable" and Section 9 "Audit" require acknowledgment of the terms; no additional input is needed.
11. Under section 10 "Applicable Law", enter the name of the Province or Territory whose law applies to the agreement alongside the laws of Canada.
12. Section 11 "Severability" and Section 12 "Complete Agreement" require no additional input, just read and ensure understanding of their contents.
13. Under "IN WITNESS WHEREOF", enter the date the agreement is executed and provide the signature, printed name, and title for both the Brokerage and Agent in the respective fields.
14. Navigate to Schedule A and B as applicable. Schedule A is for individual identification and Schedule B for corporations or other entities. Fill in the necessary details such as full legal name, address, date of birth, etc., as prompted by the form.
15. After you have completed all relevant fields, review the entire form to ensure all necessary information is accurate and complete.
16. Once the form is filled out, you may create a completed digital copy of the agreement.

Using PDFliner for easy form filling

For all your document needs, PDFliner provides easy solutions. This platform allows you to have all your documents in one place, making it easy to access, fill in, and submit them. You can also take advantage of the built-in AI assistant. Finding Form 632 is straightforward on their system, amongst other OREA form templates also available. They provide a secure way to fill your forms, ensuring your business transactions are uncomplicated and effortless.