Brokerage
Also known as: brokerage, broker commission, brokerage commission, agency fee, broker fee
The commission or fee paid to a broker for successfully arranging or negotiating a commercial transaction between parties.
Brokerage is the compensation earned by a broker for bringing parties together and facilitating the successful conclusion of a commercial agreement. In shipping, brokerage is commonly paid for charter parties, vessel sale and purchase transactions, freight agreements, and other maritime contracts. It is typically calculated as an agreed percentage of the contract value or freight and is payable only in accordance with the terms of the underlying agreement or charter party.
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