Colombian Commercial Code - Decree 410 of 1971 - Book IV - Of Contracts and Corporate Obligations - Title XIV - Brokerage - Section I - General sliding - From: Section 1340 to: 1346 Art

TITLE XIV

Brokerage

Section I

Brokers generally

Section 1340 .- Corridor is called the person who, for their special knowledge of the markets, deals as an intermediate in the task of relating two or more persons, in order to conclude a commercial business, without being linked to the parties for partnership, agency, office or representation.

Section 1341 .- The broker is entitled to remuneration under, in the absence of stipulation, the usual and, failing that, to be fixed by experts.

Unless otherwise agreed, the remuneration of the broker will be paid by the parties equally, and the insurance broker by the insurer. The broker is entitled to his remuneration in all cases where the business is held to intervene.

When the same business involving several riders, the fee is distributed among them equally, unless otherwise agreed.

Section 1342 .- Unless otherwise stated, the broker is entitled to request payment of the expenses that you made for the management of entrusted or accepted, although the business has not been concluded. Each party will pay the expenses that apply under the preceding article.

This Article does not apply to insurance brokers.

Section 1343 .- When the business is held under a suspensive condition, the remuneration of the broker only cause the fulfillment of the condition, if subject to condition subsequent, the broker is entitled to it from the date of the business.

The nullity of the contract will not affect these rights when the runner has ignored the cause of disability.

Section 1344 .- The broker must notify the parties all the circumstances known to him in any way may influence the conclusion of business.

Section 1345 .- Brokers also have an obligation:

1. To preserve the samples of goods sold by sample, as long as the dispute in accordance with Article 913, and

2. To carry on its books an account of every business in which he participates with the name and address of the parties that held, the date and amount thereof or the price of goods on that deal, in description of these and the remuneration received.

Section 1346 .- A rider who misses his duties or in any way violates the good faith and loyalty will be suspended due to the exercise of their profession for up to five years and, for repeat offenders, disabled permanently.

Cognizance of this action, the civil judge circuit address of the corridor by the steps of the oral proceedings.