How to Write a Sponsorship Agreement
If you are looking for a sponsor for certain purpose, you will need a sponsorship agreement. However, it is not easy to write it. You have to know what to be included in it. Now, in this article we will give you a guideline in writing this agreement with the proper template.
How to Make a Sponsorship Agreement
A well-written sponsorship agreement template contains some details. The first is term of sponsorship. In this part, you will need to define the length of sponsorship. It must be clear whether the sponsorship will be a fixed term of one year sponsorship or a one-off payment sponsorship.
If it belongs to fixed term, it should be clear whether one party has the rights to renew this agreement or not. If so, you will have to define how he or she provides notices to renew. These commercial problems must be agreed by both parties.
The second part to be included in the agreement is exclusivity. If you sponsor a team, it must be clear whether you would like to be their only sponsor or not. In fact, some of such agreements have clauses of exclusivity that set out what other businesses a particular organization is able to accept a sponsorship.
The third section to be included in this agreement is the payment of sponsorship. In fact, payments and fees belong to the most common factors that cause disputes in a commercial agreement. Therefore, it is very important that your sponsorship agreement form explains about it.
You can start with what you are going to pay as the sponsorship fees. Besides that, you also need to explain when the organization you are sponsoring is going to receive the fees. Then, this agreement should explain if you will pay the agreed amount installments or you will provide a lump sum payment.
Sponsorship benefits should be described clearly in the agreement, too. As you can make significant payments of sponsorship to a particular organization, you certainly would like to know about the benefits you are going to receive or what is done with your money.
If you will receive tangible benefits like book copies or logo printing on their material of advertising, these needs should be explained as clear and detailed as possible in this agreement. This is very important that all parties will understand what they will receive in this kind of agreement.
Termination is the next part of this agreement. Sometimes, there is a case that makes a relationship falls apart. If it happens, it must be clear about the consequences. The consequence depends on the agreement between both parties. For example, it can be money refund or even go to the court.
The final part of the sponsorship agreement is intellectual property. Intellectual property is very important to avoid disputes. It deals with the right of one party to use the intellectual property of other party. If you have understood well, now you can practice writing your own agreement of sponsorship.
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