Legal Question in Business Law in New York
what constitutes a referral fee and how is the amount determined for international transactions?
Asked on 9/22/10, 10:11 am
1 Answer from Attorneys
This is a very broad question. Please follow up with some context as to the nature of the international transaction.
Typically, a referral fee is based on an agreement to pay a sum of money after a certain result is reached. If the fee is larger than $500 then the agreement would have to be in writing.
Finally, in certain circumstances one has to be licensed to be able to legally collect a referral fee (e.g. real estate broker, business broker)
Answered on 9/27/10, 10:21 am
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