Definitions for "Safety Clause"
In a listing agreement, a provision that if anyone found by the broker during his listing period purchases the property within a specified time after the expiration of the listing, the broker receives his full commission. Back to the Top
A listing provision that grants the broker a commission for a sale made within a specified period of time after a listing expires, if the broker submits the name of the buyer to the owner within a stated period of time as a party with whom the broker had negotiated prior to expiration of the listing.
a legislative requirement to certify that the legislate has properly determined that the bill they propose to pass into law is legitimately necessary for a proper reason under the state and federal constitutions