How Do I Get Paid a Commission for Locating Prospective Buyers for a Seller?

Full Question:

I am a broker, who facilitates (finds for his customers/buyers) fuel oils deals between seller and buyer. My job is to find an able fuel oil Seller for an able fuel oil Buyer. For this job done I was promised commissions for the product delivered. I have currently a Chinese fuel oil Buyer for whom I have found an able Seller. I would like to protect my brokers' interests in any best ways possible. Please, advise on best workable protection banking instruments/documents/etc. which could protect my brokers' fees/commissions to be paid off in full out of such a deal. I appreciate your info and advice rendered.
05/18/2011   |   Category: Contracts ยป Finder's Fee   |   State: Florida   |   #24864

Answer:

A finder's fee is a fee paid to someone who acts as an intermediary for another party in a transaction. Finder's fees may be offered in a variety of situations. For example, an employer may pay a finder's fee to a recruitment agency upon hiring a new employee referred by that agency. A finder's fee may be paid regardless of whether a transaction is ultimately consumated.

In a corporate context, a company seeking a merger or acquisition may pay a finder's fee to a person who locates a prospective company for the transaction desired. It may be in the form of a performance-based commission, where the finder gets paid upon closing of a sale. Usually the fees are paid by the seller, but in some cases the buyer pays the commission.