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The Revenue/Fee Sharing Agreement - Service Fee is a document that outlines the agreement between two parties, the Servicer and the Referrer, regarding the sharing of fees. The document begins by highlighting the importance of the agreement, which is to share the fees earned by the Servicer with the Referrer in exchange for the Referrer referring clients to the Servicer.
The document is divided into several sections, each addressing different aspects of the agreement. The first section is the interpretation section, which provides definitions for key terms used throughout the document, such as 'agreement', 'excluded persons', 'services', and 'service fees'. This section ensures that both parties have a clear understanding of the terms used in the agreement.
The second section is the referral term section, which specifies the duration of the agreement and the exclusive engagement of the Referrer to source clients for the Servicer's services. This section also includes a conditional statement that allows for the automatic renewal of the agreement unless either party requests termination.
The third section outlines the Servicer's obligations, which include sharing a percentage of the service fees received from referred clients with the Referrer as compensation. It also specifies the timeline for payment of the commission to the Referrer and the reduction of the commission in case of any claims or liabilities against the Servicer by referred clients. Additionally, this section states that the Servicer is responsible for performing the agreed services for referred clients, complying with applicable laws and regulations, obtaining necessary licenses and permits, maintaining accurate records, and indemnifying the Referrer against any liability incurred as the Servicer's agent.
The fourth section outlines the obligations of the Referrer, which include using its existing connections and channels to secure business for the Servicer, liaising with referred clients on behalf of the Servicer, promoting the services in good faith, and using the Servicer's authorized relationship for the services. This section also specifies that the Referrer does not have the capacity to enter into legal agreements on behalf of the Servicer unless specifically authorized.
The fifth section addresses confidentiality, stating that the Referrer must treat any confidential information provided by the Servicer as confidential and only disclose it to employees or clients who need to know for the purpose of the agreement. It also states that the Servicer owns the rights, confidential information, and intellectual property rights in the products, and the Referrer must promptly notify the Servicer of any infringement or claim related to the rights or confidential information.
The sixth section includes general provisions, such as restrictions on assigning rights or delegating obligations without the Servicer's consent, clarification of the independent contractor relationship between the parties, requirements for written waivers and modifications, and the entire agreement clause. It also includes provisions for termination, consequences of termination, and the exclusion of rights for third parties.
The seventh section provides a jurisdiction clause, stating that the parties will use reasonable endeavors to resolve disputes amicably and in good faith. It also includes provisions for notices and service, specifying the methods and timing of delivering notices between the parties.
The document concludes with the signatures of the duly authorized representatives of both parties.
Overall, the Revenue/Fee Sharing Agreement - Service Fee is a comprehensive document that clearly outlines the agreement between the Servicer and the Referrer, ensuring that both parties understand their obligations and rights.
To use the Revenue/Fee Sharing Agreement - Service Fee document, follow these steps:
1. Familiarize yourself with the document: Read through the entire agreement to understand its purpose, terms, and obligations for both the Servicer and the Referrer.
2. Customize the agreement: Fill in the necessary information, such as the names and addresses of the parties involved, the term of the agreement, and any specific details related to the services and fees.
3. Review the interpretation section: Make sure you understand the definitions provided in this section to ensure clear communication between the parties.
4. Understand the referral term: Determine the duration of the agreement and whether it will be automatically renewed or require termination notice.
5. Comply with the Servicer's obligations: Ensure that the Servicer will share the agreed percentage of service fees with the Referrer for referred clients and that payments will be made within the specified timeframe. Confirm that the Servicer will fulfill its responsibilities regarding service agreements, compliance with laws and regulations, insurance coverage, licenses and permits, record-keeping, and indemnification of the Referrer.
6. Fulfill the Referrer's obligations: Use your existing connections and channels to secure business for the Servicer, liaise with referred clients on behalf of the Servicer, and promote the services in good faith. If authorized, you may use the Servicer's trademarks and other intellectual property rights exclusively for performing your duties.
7. Maintain confidentiality: Treat any confidential information provided by the Servicer as confidential and only disclose it to employees or clients who need to know for the purpose of the agreement. Respect the Servicer's rights and promptly notify them of any infringement or claim related to the rights or confidential information.
8. Understand the general provisions: Be aware of the restrictions on assigning rights or delegating obligations, the independent contractor relationship between the parties, the requirements for written waivers and modifications, and the entire agreement clause.
9. Terminate the agreement if necessary: Follow the termination provisions if either party wishes to end the agreement. Ensure that all outstanding referral fees due to the Referrer are settled within the specified timeframe.
10. Seek legal advice if needed: If you have any questions or concerns about the agreement, consult with a legal professional to ensure that your rights and obligations are protected.
Remember, this guidance is for informational purposes only and does not constitute legal advice. It is important to consult with a legal professional to address your specific circumstances and ensure compliance with applicable laws and regulations.