A business referral agreement is an agreement for the provision of referral services by referrers (also known as an introducer) to business operators.
The function of a business referral agreement is to set out the precise scope of the agreement between the referrer and the business operator. It will establish the rights and obligations of the referrer and the business operator in relation to their referrer-referee relationship.
For example, the agreement will include terms on the fees or commission which the referrer will receive in exchange for referring business to the business operator.
What is Included in the Template for Business Referral Agreement?
- Instructions on how you can use the template
- Definitions and interpretations of terms
- Scope of services
- Referral fee
- Confidentiality and data protection
- Force majeure clause
- Basis of severability
- Duration and termination of agreement
The following excerpt is taken from our business referral agreement template (which you can purchase at the link below):
Such Referral Fee shall be [ten percent (10%)] of the dollar amount value of the initial contract first entered into between the Referee and the Client (the “Initial Contract”). The Referee shall pay to the Referrer such Referral Fees [within fourteen (14) days] of receipt of payment from the Client under the Initial Contract.
Need a template for business referral agreement? You can get one here.
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For a guide to business referral agreements in Singapore, click here.
If you need help customising your business referral agreement, feel free to get in touch with one of our corporate lawyers.