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Simple fee sharing agreement for a servicer to share its fee received from clients referred by the referrer who will also be responsible for liaising with clients. This agreement is drafted in neutral form.
The parties agree that the Servicer will share its fees with the Referrer, in consideration for the Referrer referring clients to Servicer.
Servicer agrees to share with Referrer, as compensation in respect of any client (excluding Excluded Persons) referred to Servicer by Referrer (“Referred Client”), <? echo $SHARE_FEE; ?> per cent. of any Service Fees its received from Referred Client (the “Commission”).
Any payment of Commission to Referrer in respect of any Sale Agreement shall be made by Servicer within X business days after the date of receipt from Referred Client. For the avoidance of doubt, Servicer shall have no obligation to pay Referrer in respect of any service invoiced but have not been paid by the Referred Client.
The Commission shall be reduced in proportion to any claim or liability against the Servicer by Referred Clients. Referrer agrees to refund to the Servicer any Commission already paid to Referrer under this circumstances. For the avoidance of doubt, the Commission shall not be negative and any refund by the Referrer shall not exceed the Commission.
Servicer shall have the primary responsibility of performing any agreed Services for Referred Client. Such service agreement will be entered into directly between Servicer and Referred Client.
Servicer shall comply with, and give all notices required by, any statute, any statutory instrument, rule or order or any regulation or bylaws applicable to the Services.
This document should be carefully read by the Servicer and Referrer.
The Servicer, Referrer, Commission fee, Services should be clearly stated in the document.