A Sponsorship Agreement will regulate the legal relationship between the sponsor and they are who have a sponsor. In this agreement, you must complete several terms and conditions stating that you agree to use the services in return for a fee.
Some things to consider in a sponsorship agreement:
• The party who is submitting sponsorship: a Sponsorship Agreement is an agreement that identifies some of those who need and are entitled to receive sponsorship.
• A person or an organization must ensure that the proposed sponsor can make money. If there is any doubt, then they should seek assurance from other companies.
A Sponsorship Agreement requires several things:
• Term of Sponsorship: any kind of Sponsorship Agreement is the decision of the sponsors. If a person or an organization is not comfortable with a given period then they should conduct a negotiation to determine whether the sponsor is able to continue or not. When the problem can be resolved, then the parties are obliged to perform the agreed obligations such as paying, advertising sponsors, and so forth.
• Extension Sponsors: a person or an organization will have some additional Sponsorship Agreement that allows the extension of the sponsorship period. This extension can be done by agreement of both parties.
• Termination of sponsorship: If the Sponsorship Agreement has been done in a very long period of time, there is the possibility of the agreement will be terminated by either party or the applicants of the agreement. A person or an organization should consider some of the reasons to terminate the Sponsorship Agreement and make sure that it is including in the Sponsorship Agreement.
• Cost of Sponsorship: Sponsorship cost calculation is an important point that must be considered before reaching a written agreement is done for example if the cost of sponsorship will have a fixed amount or paid by the other ratings. The applicants should consider whether payment will be paid periodically or paid in advance.
Some other things to consider are:
• Liability sponsors: In addition to payment of the cost of sponsorship, the applicants should try to ensure that the Sponsorship Agreement requires the sponsor to comply with the law. This can avoid disparaging treatment of the complainant and protect intellectual property that has been provided to comply with the restrictions on the use of intellectual property.
• Submitting Liability: In a cash payment, the applicants are expected to fulfill a number of obligations that will be specified in the Sponsorship Agreement.
Below is one sample you can use for your reference.
Sponsorship Contract Template (31.5 KiB, 451 hits)