If you`re looking to establish a referral partnership agreement between your business and another, it`s important to have a clear and comprehensive template in place. This will ensure that both parties understand their roles and responsibilities, and can help prevent any misunderstandings or disputes down the line.
Here are some key elements that should be included in a referral partnership agreement template:
1. Introduction: This section should provide an overview of the agreement and the businesses involved. It should also outline the purpose of the partnership and the benefits for both parties.
2. Roles and Responsibilities: Clearly define each party`s role in the partnership and the tasks they will be responsible for. This should include details on how referrals will be generated, tracked, and compensated.
3. Compensation: This section should outline the compensation structure for referrals, including any commissions or bonuses that will be paid out. It should also cover how and when payments will be made.
4. Term and Termination: Specify the length of the agreement and the conditions under which it can be terminated by either party. This should include any notice periods required for termination.
5. Confidentiality and Non-Disclosure: This section should cover any confidential information that will be shared between the parties and specify the conditions under which it can be used or shared.
6. Governing Law and Jurisdiction: Determine which state or country`s laws will apply to the agreement and which courts will have jurisdiction over any disputes.
7. Compliance with Laws: Both parties should agree to comply with all applicable laws and regulations related to the referral partnership.
8. Representations and Warranties: This section should outline the representations and warranties made by each party, including their authority to enter into the agreement and their legal capacity to perform their obligations.
By including these elements in your referral partnership agreement template, you can help ensure that both parties have a clear understanding of their roles and responsibilities. This can ultimately lead to a more successful partnership and help your business grow through increased referrals.