An agreement outlining the terms under which a sponsor will support an event, a community group, and/or a person is known as a sponsorship agreement. Our sponsorship agreement template entails all the terms and conditions that define the relationship between sponsor and sponsored party in legal terms. This agreement template has clauses to protect the interests and meet the requirements of both parties involved. It helps you in working on brand exposure, product loyalty, and market connections.
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At the time of making a sponsorship sale, you should always get into an agreement with defined responsibilities and roles. Make sure that parties in the agreement mutually agree on the terms and conditions before signing it.
This sponsorship agreement works as a marketing tool as it enables products and brands to expand their network and strengthen their relationships with the audience.
While events enable brands to raise brand awareness, sponsorships allow them to provide their credibility and accountability. So, do you know how this agreement works and what does it do exactly? If no, then this piece of content is going to explain everything in detail.
A sponsorship agreement is designed to govern legal association between one or more sponsors and the parties entitled for the enforcement of its obligations. It comprises many terms and conditions where the sponsor agrees to pay a fee against the services.
Sponsorship opportunities allow businesses to be involved in a variety of activities at different levels of participation so that there will be product loyalty, brand awareness and strong connection with the target market.
Normally, sponsorship agreements involve the following two parties:
In order to ascertain that the agreement is made as per the requirements of both parties, all details with agreed clauses and conditions will be mentioned in it.
Below are some of the worthy benefits of using sponsorship agreements for your deal:
After the benefits, here are some of the worth considering features that are sure to facilitate you in the way you want:
There are two conditions regarding the length of the sponsorship agreement. Either party can decide to extend the time period, including the prescribed notice period.
Since business involves a lot of competition and rivalry, it’s necessary to add exclusivity clauses in the agreement so that both parties can focus on their tasks properly. The best part of this feature is that it restricts the other party to bring in more sponsors.
The sponsorship agreement is clear about the payment layout being processed between the parties. It explains whether the right holders want a lump sum amount in the beginning or in installments.
With this feature, both parties can save their time as well as money to get this matter resolved by legal proceedings. Also, payments can be made according to the events happening in the events.
Needless to say, the agreement should dictate the obligations and responsibilities for both parties. This way, they will be able to enjoy agreement’s benefits to the fullest.
The relevant benefits as well as expectations should be mentioned, even the expected return for financial support so that parties can take steps accordingly. Some common obligations are:
There are intellectual property clauses in the simple sponsorship agreement template for the assistance of both parties. Also, there must be relevant terms about when to use the intellectual property and how.
A good sponsorship agreement usually has the directions to make arrangements when something goes wrong. These arrangements include: repayment of money or end of the agreement.
Promote your brand by singing our Sponsorship Agreement TemplateBy ensuring everything is spelled out, our well-drafted and lawful Sponsorship agreement template saves time and boosts your business profile. You do not need to write it from scratch. Just modify and finalize the agreement template terms and conditions.
Start downloading your copy of the template here.
Sponsorship agreements are the door to enter a new world of revenue and benefits, which you can enjoy by partnering with other businesses.
If you are looking for one for your business, CocoSign can help you to draft a free copy that will have each and everything as per your requirements.
This Sponsorship Agreement, “the Agreement,” is entered into on this ____ day of __________________, 20___ between the (SPONSOR NAME), “the Sponsor,” and (YOUR COMPANY), for valuable consideration and in accordance with the terms and conditions set out herein. This sponsorship is for the purpose of (description), “the Event.”
I. (YOUR COMPANY) Obligations
In exchange for the consideration specified herein, (YOUR COMPANY) is responsible to provide the Sponsor with the follow ing benefits:
II. Sponsor Obligations
In exchange for the benefits set forth above, Sponsor shall make payment in the amount of $(_____) to (YOUR COMPANY) by (date of payment).
III. Sponsor Trademarks
The Sponsor grants (YOUR COMPANY) a limited licens e and right to make use of Sponsor’s trademarks, logos, company name, and company description for the purpose of promotional material and to market or advertise. The Sponsor is responsible for providing such materials in a medium that (YOUR COMPANY) is cap able of using. (YOUR COMPANY) shall use the materials provided by Sponsor in connection with the Event and shall not be used past the Event date except with express permission from the Sponsor.
Sponsor materials may be used to generate interest in the Eve nt, garner goodwill, create further sponsorship opportunities, pursue and secure additional funding or funding opportunities, or further advertise for the Event.
The Sponsor shall indemnify, defend and hold (YOUR COMPANY) harmless from and against any claims relating to or arising out of the sponsorship proposed in this Agreement, use of Sponsor materials, or sponsor’s connection to the Event.
This Agreement becomes effective upon the date of last signatory. This Agreement may be t erminated by either Party provided that the termination is written and delivered to the non-terminating Party in a timely manner. Sponsor and (YOUR COMPANY) acknowledge that any termination which results in a substantial impairment or monetary
loss to eith er Party permits the non-terminating Party to pursue legal remedies except as specified herein.
This Agreement shall terminate on (date), following the Event and fulfillment of the obligations contained herein.
If Client fails to render payments in accordance with the terms and conditions of this Agreement or is in material breach of th e terms and conditions of this Agreement, the Client is deemed to have breached this Agreement. The Venue shall inform the Client in writing of their breach and shall thereafter be permitted to seek all available legal remedies including those permitted in law or in equity. The Venue shall not be required to return any monies to the Client in the case of Client default.
Neither Party shall be deemed in breach of this Agreement if the Party terminates due to the non-terminating Party’s behavior reflecting poorly on the terminating Party’s personal or proprietary interests. If a Party believes that an action or inaction of the other negatively affects the first Party’s image, they are free to terminate this Agreement on written notice to the other.
VII. As signment
The Parties are not permitted to assign or in any way transfer this Agreement to any third party without prior written agreement signed by the party against whom enforcement is sought. Any assignment shall be deemed void and without effect and sh all render this Agreement invalid.
VIII. Entire Agreement
This Agreement, including the addendums referenced herein and attached hereto, constitutes the entire Agreement between the Parties. No communications, representations, or statements made prior to or contemporaneously with this Agreement shall be deemed effective.
Modifications or later agreements shall be deemed effective only if they are expressly conveyed in writing and signed by both Parties.
IX. Governing Law
This Agreement and any disput e arising under or relating to it will be governed under the laws of the State of (YOUR STATE). Both Parties expressly consent to the personal jurisdiction of the state and federal courts of (YOUR STATE). The Parties further agree that these courts shall h ave exclusive jurisdiction over any such action or proceeding.
If for any reason any competent court with jurisdiction deems that any provision within this Agreement is void, invalid, or ineffective, the remaining provisions shall cont inue with full force and effect.
The Parties represent, covenant, and acknowledge that each has full authority and capacity to enter into this Agreement and uphold the terms and conditions stated herein.
I have read, understood, and hereby accept all terms and conditions as set forth in this Agreement.
(YOUR COMPANY) Representative Date
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