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The Sponsorship Agreement is a legally binding document that outlines the terms and conditions between the event holder and the sponsor. It is important because it establishes the rights and obligations of both parties and ensures that the event is properly sponsored and promoted.
The entire document is divided into several sections, each addressing different aspects of the sponsorship agreement. The first section, titled 'Interpretation', provides definitions for key terms used throughout the agreement. This ensures clarity and understanding between the parties.
The second section, titled 'Grant of Sponsorship Rights', outlines the specific rights and licenses granted to the sponsor by the event holder. These include the right to display advertising boards and banners at the event, the license to use the sponsor's logo on stationery and promotional material, the right to display and sell company products at the event, and the right to be acknowledged as the sponsor in all advertising related to the event.
The third section, titled 'Sponsor's Obligations', outlines the obligations of the sponsor. This includes the payment of the sponsorship fee, compliance with event rules and regulations, and the use of the sponsor's logo and artwork in promotional material.
The fourth section, titled 'Event Holder's Obligations', outlines the obligations of the event holder. This includes organizing and staging the event, entering into necessary agreements with performers and suppliers, providing the premises for the event, and ensuring event publicity.
The fifth section, titled 'Sponsorship Fee', specifies the amount and manner of payment for the sponsorship fee. It also addresses the payment of prize money, if applicable.
The sixth section, titled 'Period of Agreement', establishes the term of the agreement and provides an option for extension.
The seventh section, titled 'Boards and Banners', outlines the responsibilities of the sponsor in providing and maintaining advertising boards and banners at the event.
The eighth section, titled 'Event Logos', addresses the use and protection of event logos by the sponsor.
The ninth section, titled 'Termination', outlines the events that may lead to termination of the agreement and the consequences of termination.
The tenth section, titled 'Consequences of Termination', specifies the actions to be taken by both parties upon termination of the agreement.
The eleventh section, titled 'Precedence', states that this agreement supersedes any previous agreements or arrangements between the parties.
The twelfth section, titled 'Force Majeure', addresses the rights and obligations of the parties in the event of circumstances beyond their control.
The thirteenth section, titled 'Confidentiality', requires both parties to keep the terms of the agreement and any confidential information confidential, unless otherwise permitted.
The fourteenth section, titled 'Law and Construction', specifies the jurisdiction and governing law of the agreement.
The fifteenth section, titled 'Notices', outlines the requirements for giving notices under the agreement.
The sixteenth section, titled 'Non-Assignability', states that the rights and obligations of the sponsor under the agreement are personal and cannot be assigned without consent.
The seventeenth section, titled 'Waiver and Variation', addresses the waiver of rights and the variation or cancellation of the agreement.
The eighteenth section, titled 'Severance', states that if any provision of the agreement is deemed void or unenforceable, it shall be deleted and the remaining provisions shall continue in full force and effect.
The nineteenth section, titled 'No Partnership or Agency', clarifies that the agreement does not create a partnership or agency relationship between the parties.
The twentieth section, titled 'Entire Agreement', confirms that this agreement represents the entire agreement between the parties and supersedes any previous agreements or arrangements.
The twenty-first section, titled 'No Rights for Third Parties', states that only the parties to the agreement have the right to enforce its terms.
To use the Sponsorship Agreement, follow these steps:
1. Review the entire agreement to understand the rights and obligations of both parties.
2. Ensure that all definitions provided in the 'Interpretation' section are clear and understood.
3. Determine the specific rights and licenses required by the sponsor and negotiate with the event holder if necessary.
4. Agree on the sponsorship fee and payment terms, considering any additional prize money if applicable.
5. Comply with event rules and regulations, as well as applicable media and domestic laws.
6. Create advertising and promotional material in accordance with the approved form and submit samples to the event holder for review.
7. If required, provide a prestigious perpetual trophy for the event and supply finished artwork relating to the sponsor's name and logos.
8. Organize and stage the event according to the event plan and enter into necessary agreements with performers and suppliers.
9. Publicize the event and enlist the services of advertising and media consultants to develop a marketing campaign.
10. If applicable, ensure live and recorded televised coverage of the event is arranged.
11. Obtain insurance coverage for all risks pertinent to the staging of the event.
12. Pay the sponsorship fee to the designated account, taking into account any applicable sales or value-added tax.
13. If the event is canceled, notify the event holder and terminate the agreement if desired.
14. Upon termination or expiry of the agreement, return or destroy any materials related to the event and cease using the event logos.
15. Keep the terms of the agreement and any confidential information confidential, unless otherwise permitted.
16. Comply with the jurisdiction and governing law specified in the agreement.
17. Give any required notices in writing, following the specified methods and timelines.
18. Do not assign or transfer the rights and obligations under the agreement without prior written consent.
19. Seek consent from the event holder for any variations or cancellations of the agreement.
20. If any provision of the agreement is deemed void or unenforceable, it shall be deleted and the remaining provisions shall continue to be valid.
21. Understand that the agreement does not create a partnership or agency relationship between the parties.
22. Keep a copy of the signed agreement for reference and future use.