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Mutual Referral Agreement is entered between two parties wherein each party refers to potential clients to the other in exchange for a commission/referral fee.
The Agreement outlines the terms of:
(a) the relationship between the Referring Party and the Receiving Party (party receiving the referrals).
(b) Payment of commission/referral fee, i.e. enlists the circumstances where the commission is due and not due to the referral party;
How to use this Document?
This document comes into play when two parties agree to refer clients to each other for a fee/commission. The document can be customised to include the percentage of commission payable for the referral.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.